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Goldman Sachs analyst Hallam has set an ambitious price target of CHF 35 for UBS shares following the merger with Credit Suisse announced in March last year. Despite a rise in share price over the next twelve months, UBS shares peaked at just over CHF 27 during that period.
A potential Trump victory could have mixed effects on Europe, with increased military spending, tariffs, and geopolitical uncertainty leading to a projected 1% GDP reduction. While some view this as a catalyst for European unity and defense autonomy, others fear it may embolden far-right populism and strain transatlantic relations.
The State of Alaska Department of Revenue increased its MSCI holdings by 0.3%, owning 10,955 shares valued at $6.14 million after acquiring 35 additional shares. Norden Group LLC also entered a new stake worth approximately $2.39 million. Institutional investors hold 89.97% of MSCI stock, which has a "Moderate Buy" rating, with analysts adjusting price targets amid mixed forecasts.
UBS reported a profit of USD 1.43 billion for Q3 2024, a significant recovery from a USD 715 million loss in the same quarter last year, driven by strong performance across its business segments and successful integration of Credit Suisse. The bank attracted nearly USD 25 billion in new money, managing total assets of USD 6,199 billion by the end of September. Despite a cautious outlook due to geopolitical uncertainties, UBS remains committed to its dividend and share buyback plans, with Chairman Colm Kelleher aiming to lead for another five years while seeking to expand in the U.S. asset management market post-integration.
UBS Group AG operates through four main segments: wealth management (54.3% of revenues), investment banking (24.9%), retail and corporate banking (12.3%), and asset management (8.5%). By the end of 2022, the Group is set to manage CHF 525.1 billion in deposits and CHF 387.2 billion in loans, with operating income distributed across regions: Switzerland (22.3%), Europe-Middle East-Africa (20.2%), Americas (39.9%), Asia-Pacific (16.2%), and others (1.4%).
Goldman Sachs maintains a 'Buy' rating for UBS with a target price of 38.70 francs, while JPMorgan upgrades its rating to 'Overweight' with a target of 31 francs, citing strong quarterly results and effective restructuring. UBS reported a profit of 1.43 billion USD in Q3 2024, exceeding market expectations, despite a slight dip in share price.
Goldman Sachs strategists anticipate a rise in Chinese stocks within two to three months following the US presidential election, despite potential initial volatility if Donald Trump wins. They noted that China equities remained stable amid recent Trump-related risks, indicating resilience and a bullish sentiment for China post-election.
UBS reported a net profit of $1.4 billion for Q3, significantly exceeding forecasts, driven by strong market activity in investment banking and a 5% rise in sales to $12.3 billion. The bank is ahead of schedule in integrating Credit Suisse, having completed the first wave of customer account migrations, but remains cautious about Q4 due to geopolitical uncertainties and a challenging macroeconomic outlook.
UBS shares surged to a new annual high, trading at CHF 29.06, following strong third-quarter earnings and progress in the integration of Credit Suisse. Analysts praised the bank's performance, noting it exceeded profit forecasts for the third consecutive quarter and is ahead of schedule on cost-cutting plans, now targeting USD 7.5 billion in reductions by the end of 2024. Most analysts continue to recommend UBS shares as a buy, highlighting a positive outlook and commitment to dividends and share buybacks.
European natural gas prices have declined as Goldman Sachs cautions about bearish risks following a recent surge to yearly highs. Benchmark futures fell by up to 2.7% in early trading, with analysts suggesting prices could nearly halve if Russian gas supply exceeds expectations.
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