0537 GMT - UBS Group's global wealth management and asset management arms are highly exposed to equities and seem likely to take a hit from market declines, RBC Capital Markets analysts say in a research note. Equities account for 48% of assets under management in the Swiss bank's global wealth management business and 43% in its asset management unit, according to RBC. The decline in markets hits estimates fast, but most of the move won't show up in first-quarter results as it happened in April, the analysts say. "While a weaker [U.S. dollar] is positive for earnings, it is a negative for the price target which is in [Swiss francs]," the analysts say. RBC cuts its target price on UBS to 30 francs from 36 francs. (adria.calatayud@wsj.com)
(END) Dow Jones Newswires
April 08, 2025 01:38 ET (05:38 GMT)
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