(News Bulletin 247) – UBS confirms its neutral advice on value with a target of 262 Swiss francs after the announcement of the results. The group exceeded forecasts on turnover and margins according to the analyst.
‘The growth of the turnover of the 1st semester excluding currency effects of +18% was +4ppt higher than the forecasts of +14% (UBSe +19%)’ indicates UBS.
‘ H1 EBIT of CHF686m was up +12% vs. CHF612m (+9% vs. UBSe CHF627m), with an EBIT margin of 17.1%, +150bps vs. consensus of 15.6% (UBSe 15.4%)’ adds UBS.
Copyright (c) 2023 News Bulletin 247. All rights reserved.
I have over 8 years of experience working in the news industry. I have worked as a reporter, editor, and now managing editor at 247 News Agency. I am responsible for the day-to-day operations of the news website and overseeing all of the content that is published. I also write a column for the website, covering mostly market news.
