Swisscom: shares gain on UBS upgrade

(CercleFinance.com) - Shares in Swisscom are currently up 0.
8% at 465.4 Swiss francs, after UBS upgraded the stock from "neutral" to "buy," while raising its target price from 490 Swiss francs to 501 Swiss francs.

In a research note, UBS analysts say sentiment is "weak," although believe that the Swiss telecom group will benefit from one of the most compelling cost-cutting opportunities in the sector, which underpins their above-consensus outlook.

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