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UBS Group reported a robust $1.7 billion profit for the first quarter, surpassing expectations of $1.3 billion, reflecting strong market strategies and management. This success boosts investor confidence and highlights the resilience of Switzerland's corporate sector, with firms like Schindler and Sandoz also demonstrating stability. As the Swiss National Bank prepares for a key US Dollar auction, the broader economic indicators suggest a resilient Swiss economy amid global shifts.
Deutsche Bank has upgraded Evotec (EVO) from "Sell" to "Hold" and raised its price target from EUR 4 to EUR 7, following the company's new guidance for 2025. Despite lower-than-expected adjusted EBITDA projections, the guidance is seen as a solid foundation for valuation, with analysts forecasting an average target price of $6.00, indicating a potential upside of 46.88%. Evotec reported strong Q4 2024 results, with significant revenue growth and operational leverage, while also achieving EUR 40 million in run rate savings through a priority reset.
Top managers at Swiss companies, including Medacta, EFG International, Swatch, and Kühne + Nagel, have made significant share purchases, signaling confidence amid market turbulence. Despite this, share prices have struggled, with Swatch and Kühne + Nagel experiencing notable declines. Medacta, however, has shown resilience, aided by its acquisition of Parcus Medical, leading to positive growth projections.
UBS Group AG is seeking to limit the future size of its investment bank and increase capital to avoid stricter regulations following its acquisition of Credit Suisse. Meanwhile, Penza Investment Management has acquired a 3.01% stake in Julius Baer. Analysts have raised the target price for Sandoz Group AG from CHF 42 to CHF 44, while Swisscom AG proposed a dividend of CHF 22.00 per share and SGS SA proposed a dividend of CHF 3.20. The Swiss Investor Confidence Index for March is set to be released at 0900 GMT.
UBS Group AG is working to mitigate stricter regulations by proposing to limit the size of its investment bank and increase capital reserves, following its acquisition of Credit Suisse. Julius Baer Gruppe AG has a 3.01% stake held by Penza Investment Management, while RBC has raised the target price for Sandoz Group AG to CHF 44 from CHF 42. Swisscom AG and SGS SA have proposed dividends of CHF 22.00 and CHF 3.20 per share, respectively, with Swiss March Investor Sentiment data set to be released at 0900 GMT.
The Swiss stock market remained positive following the Swiss National Bank's decision to cut its key interest rate by 25 basis points to 0.25%. Analysts expect this to be the last cut for the year, with inflation forecasts suggesting no need for further reductions. The SMI index rose by 0.11%, led by Nestlé, while Swissquote shares fell by 7.7% despite reporting a strong fiscal performance.
The Swiss stock market remained positive as the Swiss National Bank (SNB) cut its key interest rate by 25 basis points to 0.25%, a move anticipated by analysts. The SMI index rose by 0.11%, led by Nestlé and Alcon, while Swissquote shares fell 7.7% despite reporting a strong fiscal performance. HOCN shares surged 19% amid plans to appeal a delisting decision.
Societe Generale has announced its role as the Stabilisation Coordinator for Sandoz's recent bond offering, which features a 4% yield and a total nominal amount of EUR 500 million, maturing on March 26, 2035. Stabilization activities may begin today and are expected to last until April 25, 2025, allowing for potential market support. The offering is directed at professional investors outside the UK and is not available for sale in the United States.
The Swiss stock market closed slightly higher, with the SMI rising 0.15% to 12,893.98 points, buoyed by gains in cyclical and financial stocks. Notable performers included OC Oerlikon (+8.7%) and Basilea (+8.3%), while Lonza (-2.7%) and Siegfried (-6.3%) faced declines due to conservative outlooks. Encouraging economic signals from Germany and the USA contributed to a positive market sentiment.
UBS Group and BNP Paribas have both downgraded Sandoz Group (OTCMKTS:SDZNY) from a "strong-buy" to a "hold" rating. The stock opened at $48.61, with a 1-year low of $27.79 and a high of $48.66, while its fifty-day and 200-day moving averages are $43.52 and $43.20, respectively. Sandoz Group specializes in developing and marketing generic pharmaceuticals and biosimilars across various therapeutic areas.
Sandoz Group AG
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ubs reports strong first quarter profit as swiss firms prepare for earnings
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