Nomura Securities Maintains a 'Buy' on UBS AG (UBS); Q3 Review
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Price: $27.36 --0%
Rating Summary:
9 Buy, 10 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
Rating Summary:
9 Buy, 10 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 8 | New: 5
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Nomura Securities maintains a 'Buy' on UBS AG (NYSE: UBS) price target of CHF 18.
Nomura analyst, Jon Peace, said, "UBS reported 3Q11 net profit of CHF1,018mn vs. guidance of a “modest net profit”. Most of the surprise can be explained by exceptional items which were better than guided, including the P&L impact of own debt/CVA/DVA gains, the unauthorised trading loss, and an absence of UK bank levy. Trading was weak as expected, with cost flexibility limited. However, Wealth Management businesses fared better and the balance sheet remains strong. UBS deferred much of the strategic discussion until the November 17 Investor Day. We fear ambitions and execution risk could yet disappoint investors, however, with a strong balance sheet and low absolute valuation, investors appear willing to give UBS the benefit of the doubt near term."
For more ratings news on UBS AG click here and for the rating history of UBS AG click here.
Shares of UBS AG closed at $12.57 yesterday.
Nomura analyst, Jon Peace, said, "UBS reported 3Q11 net profit of CHF1,018mn vs. guidance of a “modest net profit”. Most of the surprise can be explained by exceptional items which were better than guided, including the P&L impact of own debt/CVA/DVA gains, the unauthorised trading loss, and an absence of UK bank levy. Trading was weak as expected, with cost flexibility limited. However, Wealth Management businesses fared better and the balance sheet remains strong. UBS deferred much of the strategic discussion until the November 17 Investor Day. We fear ambitions and execution risk could yet disappoint investors, however, with a strong balance sheet and low absolute valuation, investors appear willing to give UBS the benefit of the doubt near term."
For more ratings news on UBS AG click here and for the rating history of UBS AG click here.
Shares of UBS AG closed at $12.57 yesterday.
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