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UBS has downgraded its price target for DocMorris from 27 to 25 francs, maintaining a "Sell" rating. Analyst Sebastian Vogel noted that the online pharmacy's recent statements indicate a weaker growth outlook for prescription drugs in the German market in the near term.
UBS has maintained a "Neutral" rating for Pernod Ricard, setting a target price of 138 euros, following disappointing sales figures that fell more than anticipated, particularly in Asia. Analyst Sanjeet Aujla noted that expectations for the spirits manufacturer have declined recently.
The global asset management industry, managing €42 trillion, faces significant challenges as profit margins decline and competition intensifies. A study by ZEB highlights that while AuM grew by 8.8% annually from 2019 to 2023, costs have stagnated, prompting firms to prioritize cost reduction and digitalization, particularly through AI. Many asset managers plan to enhance their offerings in alternative investments, although understanding of digital tools remains limited.
Gemma Tomas has been appointed as the new Managing Director of Spectrum Asset Management in Switzerland, where she will collaborate with Chief Investment Officer Isabel Faragalli to enhance international distribution and sales. Tomas brings 26 years of experience from Credit Suisse, most recently serving as Head of External Asset Managers for Latin America, and has a strong background in investment banking and wealth management across various global markets. She holds a master's degree in physics from the University of Barcelona and a postgraduate program in corporate finance from the London Business School.
Switzerland is facing a lawsuit in New York from AT1 bondholders who suffered losses due to the collapse of Credit Suisse. The case, which raises questions about Switzerland's legal accountability, has been delayed as it navigates the complexities of the situation.
Berner Kantonalbank (BEKB) demonstrates stable performance amid market volatility, with a current share price of EUR 247.50, reflecting a 1.85% increase over the past month. The bank's solid dividend yield of 4.13% and a P/E ratio of 13.19 indicate a fair valuation, suggesting a balanced growth and profitability outlook. Recent analysis calls for shareholders to consider their positions, weighing the options to buy or sell.
UBS has reduced its price target for Puma SE from €48.50 to €43.50 while maintaining a "Neutral" rating. Analyst Robert Krankowski noted that Puma is currently facing challenges in achieving its profitability targets for 2025, as recent favorable conditions have shifted to headwinds.
BLKB's subsidiary Radicant is merging with fintech Numarics to enhance its offerings for private customers and SMEs, aiming for break-even by 2027/28. The merger will expand Radicant's services in sustainable banking and investment, while broadening its investor base with participation from venture capital firms. Radicant will continue under CEO Anton Stadelmann, with a new six-member Board of Directors formed from both companies.
Basellandschaftliche Kantonalbank (BLKB) is set to merge its subsidiary Radicant with fintech Numarics, pending regulatory approval. This merger aims to enhance services for private customers and target SMEs, with plans for a fully integrated range of banking and administrative services. Radicant's CEO, Anton Stadelmann, will lead the new entity, which will be headquartered in Liestal and governed by a six-person Board of Directors from both companies.
Basellandschaftliche Kantonalbank, a Swiss commercial bank, is set to merge with Numarics. The bank serves both private and corporate customers, offering a range of services including private banking, real estate services, investment advice, and various financial products through its approximately twenty branches in the canton of Basel-Landschaft.
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