UBS shares have experienced a decline after the release of its quarterly results, leading to mixed reactions from analysts.

While Citigroup acknowledges UBS's strong performance in the third quarter, it expresses caution regarding the bank's equity base. Citigroup points out a significant decrease in the core capital ratio (CET1), which dropped by 60 basis points to 14.3 percent from July to September.

Despite these concerns, Citigroup maintains its "Neutral" investment rating for UBS, with a price target of CHF 27.30. The market's response reflects a combination of optimism about UBS's recent accomplishments and concerns about its capital position going forward.