JPMorgan has increased its price target for UBS shares, while maintaining an "overweight" rating. The analyst suggests a selective investment approach in the banking sector for 2025, favoring institutions that are less reliant on net interest income.
Along with UBS, the analyst's top picks include Deutsche Bank, Barclays, Intesa Sanpaolo, and Natwest. The updated valuation now extends to 2027, reflecting a shift in the analysis timeframe. JPMorgan advises investors to focus on banks that can effectively navigate the changing financial landscape.
The report, published on December 5, 2024, highlights the ongoing adjustments within the banking industry in preparation for future challenges.