UBS AG (UBS) Upgraded to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of UBS AG (NYSE:UBS) from a hold rating to a buy rating in a report issued on Monday morning. Zacks Investment Research currently has $19.00 price objective on the bank’s stock.
According to Zacks, “Shares of UBS Group AG have underperformed the industry on NYSE in the last six months. The company’s profitability continues to be challenged by negative interest rates in the domestic economy and strict regulatory framework. However, UBS Group remains focused on building capital levels, global expansion and executing restructuring initiatives. Moreover, management anticipates to achieve CHF 2.1 billion in net cost reductions by the end of 2017. Further, the company’s strong capital position remains a tailwind.”
UBS has been the topic of several other reports. BidaskClub raised shares of UBS AG from a sell rating to a hold rating in a research note on Thursday, June 29th. J P Morgan Chase & Co raised shares of UBS AG from a neutral rating to an overweight rating in a research note on Monday, June 26th. ValuEngine lowered shares of UBS AG from a strong-buy rating to a buy rating in a research note on Friday, September 1st. Morgan Stanley reissued a buy rating on shares of UBS AG in a research note on Tuesday, July 18th. Finally, BNP Paribas began coverage on shares of UBS AG in a research note on Thursday, August 31st. They set an outperform rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. UBS AG currently has a consensus rating of Buy and a consensus price target of $16.64.
Shares of UBS AG (UBS) opened at 16.81 on Monday. The company has a market capitalization of $62.48 billion, a PE ratio of 15.61 and a beta of 1.25. The firm’s 50-day moving average price is $16.85 and its 200-day moving average price is $16.54. UBS AG has a 12-month low of $12.86 and a 12-month high of $18.31.
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A number of institutional investors have recently modified their holdings of UBS. Mountain Capital Investment Advisors Inc purchased a new position in UBS AG in the 2nd quarter valued at about $118,000. Fiduciary Trust Co. purchased a new position in UBS AG in the 2nd quarter valued at about $136,000. Keybank National Association OH purchased a new position in UBS AG in the 1st quarter valued at about $165,000. Segantii Capital Management Ltd purchased a new position in UBS AG in the 2nd quarter valued at about $166,000. Finally, Oppenheimer & Co. Inc. purchased a new position in UBS AG in the 2nd quarter valued at about $173,000. 31.42% of the stock is currently owned by hedge funds and other institutional investors.
About UBS AG
UBS Group AG is a holding company and conducts its operations through UBS AG and its subsidiaries. The Company comprises Corporate Center and five business divisions: Wealth Management, Wealth Management Americas, Personal & Corporate Banking, Asset Management and the Investment Bank. Wealth Management division provides advice and tailored financial services to wealthy private clients around the world, except those served by Wealth Management Americas.
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