Swisscom: shares drop after UBS downgrade

(CercleFinance.com) - Swisscom shares are down over 1% on Wednesday after UBS downgraded the telecoms group from "buy" to "neutral," saying that the shares lack near-term catalysts.


"Near term, we believe Swisscom's shares offer a balanced risk/reward profile," UBS analysts said in a note to clients.

The broker has also cut its corresponding target price from 501 Swiss francs to 481 Swiss francs.

Swisscom shares are down 1.1% at 488.1 Swiss francs in mid-morning trading today.

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