Wealth and Asset Management
Jefferies downgrades UBS despite ‘compelling’ CS deal maths
Analysts at Jefferies have downgraded UBS despite the ‘compelling deal maths’ of its Credit Suisse acquisition, telling investors to buy BNP Paribas. The cutting of UBS’s rating from ‘buy’ to ‘hold’ reflects concerns about the integration risks combining the two Swiss giants after the shock CHF 3bn cut-price deal. Although…
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