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UBS Reports Very Strong Second-Quarter Results - Likely That We Will Increase Our FVE

Johann Scholtz, CFA Equity Analyst

Analyst Note

| Johann Scholtz, CFA |

Narrow-moat UBS booked net attributable profit of $2 billion for the second quarter of 2021, compared with the $1.2 billion it reported for the second quarter of 2020. UBS smashed the $ 1.3 billion estimate of the consensus of analysts polled by UBS itself. We expect that we will increase our earnings estimate and our CHF 16/share fair value estimate for UBS on the back of these strong results. We keep our narrow moat rating.

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Company Profile

Business Description

UBS is the world’s largest wealth manager and is the product of multiple mergers over the years. Apart from wealth and asset management, it operates a universal bank in Switzerland and a global investment bank.

Bahnhofstrasse 45
Zurich, CH-8001, Switzerland
T +41 442341111
Sector Financial Services
Industry Banks - Diversified
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2021
Stock Type
Employees 47,227