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UBS is nearing a settlement with U.S. authorities over a tax evasion case linked to its acquisition of Credit Suisse, which has faced scrutiny for aiding tax evasion since 2014. The Swiss bank is expected to pay hundreds of millions to resolve these legacy issues, as analysts predict potential stock upside following recent upgrades. UBS has set aside $4 billion for legal provisions and aims to conclude outstanding investigations, including allegations of undisclosed Nazi-linked accounts.
UBS shares rose over 4% in pre-market trading to $31.57 following an upgrade by BNP Paribas Securities analyst Jeremy Sigee, who moved the rating from "neutral" to "outperform" and increased the price target from 27.5 to 35 Swiss Francs. Sigee expects the Swiss bank to expand its stock buyback program, recommending investors to buy UBS shares.
UBS shares surged 3.8%, marking their largest increase in two months, following an upgrade from BNP Paribas analyst Jeremy Sigee, who raised the target price from 27.5 CHF to 35 CHF. Sigee anticipates increased stock buybacks and believes concerns over revised Swiss capital rules are overstated, suggesting that capital releases from overseas subsidiaries may mitigate potential impacts. While UBS may not address the new regulations in its upcoming full-year results, it could provide clarity on these capital releases, reassuring investors.
UBS Group AG shares surged by 3.8%, marking their largest gain in two months, following an upgrade by BNP Paribas Exane from "neutral" to "outperform." Analysts expect the bank to increase share buybacks and believe concerns over new Swiss capital regulations are overstated. Exane raised its price target for UBS to 35 Swiss francs, up from 27.5, anticipating potential capital releases that could reassure investors.
UBS Group AG shares surged by 3.8%, marking their strongest performance in two months, following an upgrade from BNP Paribas Exane. Analysts, led by Jeremy Sigee, raised their rating to outperform from neutral, citing expectations of an increase in share buybacks.
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