Bank UBS shares back above CHF 30 for the first time since 2008
UBS shares are the clear leader among the blue chips so far this year. In early trading on Thursday, they reached the CHF 30 mark for the first time since the beginning of 2008 - at the start of the major financial crisis.
09.01.2025, 10:43
SDA
Shortly before 10.30 a.m., they were trading at 30.06 francs, 1.8 percent higher than the previous evening. With a current market capitalization of around CHF 104 billion, the stock has also clearly established itself as number 4 in the SMI - behind the three defensive heavyweights Novartis, Nestlé and Roche.
As a reminder, when UBS had to be bailed out by the state during the financial crisis in 2009, the share price had fallen to around 8 francs, and at the start of the pandemic in March 2020 it was as low as 7 francs. At its peak in 2007, however, UBS shares cost over 70 francs.
On the upswing since the PUK report
There has actually been a clear upward trend in the recent past since December 20 - the day the PUK report on the CS collapse was published. Even if it will be some time before this has any consequences for UBS, for example in terms of capital adequacy, the report has at least not heightened investors' fears in this regard, according to the trade.
Various analysts have accordingly raised their ratings and price targets in recent days and weeks, in some cases significantly. On the day of the report, for example, it was the broker Kepler Cheuvreux that raised UBS shares to 'buy' from 'hold' and the price target to 33.00 from 28.50 francs.
UBS will present its annual results for 2024 on February 4 - so it will be clear by then at the latest whether the bank can justify the recent price increase with its latest figures.
