Deutsche Bank analyst Benjamin Goy upgraded UBS (UBS) to Buy from Hold with a price target of CHF 37, up from CHF 29. The bank decided to reduce double leverage, which provides further flexibility, and continues to delivery strongly on cost cutting, the analyst tells investors in a research note. In addition, the firm believes UBS remains in the right businesses for 2025 and beyond while continuing to increase capital return significantly. Deutsche cites the bank’s less leverage, higher earnings, and lower valuation for the upgrade.
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