UBS Wins Analyst Upgrade as Swiss Parliament Prepares Capital Rule Debate
Published on 11/08/2026 at 06:41 | Editorial boerse-global.de
UBS closed Friday's session 0.8% lower, a modest pullback that followed the release of third-quarter figures and a fresh vote of confidence from RBC Capital Markets. The Canadian bank lifted its price target on the Swiss lender from CHF 44 to CHF 50 while reaffirming an "Outperform" rating, with analyst Anke Reingen arguing that the completion of the Credit Suisse integration should usher in a period in which UBS can more fully exploit its growth potential.
The quarterly report underpinning that view showed a return on CET1 capital of 14.8% for the third quarter of 2026, alongside a net profit of USD 2.7 billion.
A Capital Question Heading to Bern
Attention now shifts to the Swiss National Council, where a proposal could ease the bank's additional capital requirements. As Bloomberg reported on Wednesday, the measure would let UBS apply a more conservative valuation to its foreign subsidiaries when calculating capital needs — a change that could shrink a potential extra burden of USD 16 billion. The proposal has yet to be adopted, and the report left open both the scale of any relief and the level of support it commands in parliament. Detailed debate on the capital rules is scheduled for November 23 and 24.
Should investors sell immediately? Or is it worth buying UBS?
London Headcount Trimmed
Separately, Bloomberg reported Friday that UBS has cut roughly 200 positions in London, affecting areas including wealth management and investment banking. The reductions were announced internally, according to the report, and came as the integration of Credit Suisse nears completion. UBS declined to comment.
Stake Disclosure and a Property Fund Inflow
A regulatory filing shows UBS holding approximately 6.9 million shares and voting rights in Bang & Olufsen A/S, equal to 4.66% of the Danish audio maker. The disclosure also records that the stake had initially crossed the 5% threshold before falling back below it.
On the fund side, UBS said Wednesday that the capital increase for its (CH) Property Fund – Direct Mixed Urban closed successfully, with all new units fully subscribed. The real estate fund took in around CHF 183 million — a inflow distinct from the National Council proposal, which concerns the bank's potential additional capital requirements.
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