UBS Maintains Buy Rating on AG Mortgage, Raises PT to $9

UBS Maintains Buy Rating on AG Mortgage, Raises PT to $9

UBS Group AG has received a positive analyst rating from Goldman Sachs, with the investment bank maintaining its Buy rating and raising its price target to CHF9.00. The shares of UBS Group AG closed yesterday at $40.55 [1].

Goldman Sachs analyst Chris Hallam, who covers the Financial sector and has a track record of success with an average return of 27.4% and a 78.06% success rate on recommended stocks, set the new price target in a recent report. Hallam's updated rating comes as the company's shares have seen an increase in insider selling activity, indicating a negative sentiment among corporate insiders [1].

In its latest earnings report for the quarter ending June 30, UBS Group AG reported a quarterly revenue of $18.32 billion and a net profit of $2.4 billion. This marks a significant improvement over the previous year's revenue of $11.85 billion and net profit of $1.14 billion [1]. Despite the strong financial performance, the insider selling activity suggests that some key stakeholders are cautious about the stock's prospects.

The analyst consensus on UBS Group AG remains a Moderate Buy, with an average price target of $41.21, indicating a 1.63% upside from current levels. Deutsche Bank also maintained a Buy rating on the stock with a price target of CHF35.00 [1].

Investors should closely monitor UBS Group AG's financial performance and insider activity to gauge the stock's future direction. The company's ability to navigate market conditions and maintain strong financial results will be crucial in determining its stock price trajectory.

References:
[1] https://www.theglobeandmail.com/investing/markets/stocks/UBS/pressreleases/34442083/goldman-sachs-sticks-to-their-buy-rating-for-ubs-group-ag-ubs/