JPMorgan Adds UBS (UBS) to 'Focus List'
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Price: $53.63 -0.19%
Rating Summary:
9 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 10 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Shares of UBS (NYSE: UBS) are continuing sharply lower Tuesday morning despite being added to JPMorgan's "Focus List" this morning.
The downward pressure comes amid a return to the debt contagion trade in the Eurozone. A strategist at UBS issued a note Monday arguing the banking sector has fallen back into "crisis mode." The UBS analyst believes the marked-to-market trading books of banks focused in the capital markets is likely "particularly exposed to extreme stress..."
JPMorgan maintains an Overweight rating and price target around $22 on shares of UBS.
The stock is down 11.6 percent to $12.20 Tuesday morning.
The downward pressure comes amid a return to the debt contagion trade in the Eurozone. A strategist at UBS issued a note Monday arguing the banking sector has fallen back into "crisis mode." The UBS analyst believes the marked-to-market trading books of banks focused in the capital markets is likely "particularly exposed to extreme stress..."
JPMorgan maintains an Overweight rating and price target around $22 on shares of UBS.
The stock is down 11.6 percent to $12.20 Tuesday morning.
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