文章核心观点 - UBS对特斯拉股票持悲观态度，重申"卖出"评级，目标价为197美元，较当前股价低约10% [1] 为什么UBS对特斯拉股票持悲观态度 - UBS分析师Joseph Spak认为，特斯拉的高估值主要源于投资者对其自动驾驶和人工智能项目的未来预期，尤其是其robo-taxi和humanoid robot项目 [2] - 由于这些项目短期内不会产生利润，投资者在特斯拉财报发布时更关注其主导的汽车业务 [2] - 特斯拉计划在10月公布robotaxi项目，并预计在2025年开始内部使用humanoid robot [2] - 目前特斯拉股价的93%反映了投资者对其未来项目的预期，但robotaxi项目的具体推出时间尚不确定，如果项目进一步延迟，股价可能会下跌，即使项目成功，也可能因"sell the news现象"导致股价下跌 [3] 特斯拉股票的估值 - 即使特斯拉即将推出的更便宜的电动汽车和其当前高级驾驶辅助系统(ADAS)的普及使其每股年收益增加1美元，其股价仍将以超过75倍的市盈率交易 [4] - 在今日交易前，特斯拉股票的远期市盈率为99倍 [4] - 在过去的月份中，特斯拉股价上涨了25%，在过去三个月中上涨了52% [4]

Gold prices have surged in 2024 and judging by the latest analyst commentary, this trend is unlikely to stop anytime soon. UBS (NYSE:UBS) updated its gold price forecasts recently, raising its expectations for the precious metal’s future performance. The bank’s Chief Investment Officer (CIO) now anticipates gold to reach $2,500 per ounce by the end of September, up from the previous forecast of $2,400. Moreover, the year-end projection for 2024 has been increased to $2,600 per ounce from $2,500, with the sa ...

WATERTOWN, Mass., July 09, 2024 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage biopharmaceutical company advancing a new class of small molecule medicines using targeted protein degradation (TPD), today announced that the Company will participate in a fireside chat at the UBS Virtual TPD Day on July 15, 2024, at 1:00 p.m. ET. A live webcast of the presentation will be available under “News and Events” in the Investors section of the Company’s website at www.kymeratx.com. A re ...

BOSTON, July 08, 2024 (GLOBE NEWSWIRE) -- Monte Rosa Therapeutics, Inc. (Nasdaq: GLUE), a clinical-stage biotechnology company developing novel molecular glue degrader (MGD)-based medicines, today announced that Markus Warmuth, M.D., Chief Executive Officer, will participate in a fireside chat at the virtual UBS Targeted Protein Degradation Day on Monday, July 15, 2024, at 3:30 p.m. ET. A webcast of the presentation will be accessible via the “Events & Presentations” section of Monte Rosa’s website at ir.mo ...

UBS Group AG (UBS) marks an important milestone in the integration of UBS and Credit Suisse by completing the merger of UBS Switzerland AG and Credit Suisse (Schweiz) AG. This merger aligns with UBS' growth strategy to strengthen its market presence in competitive regions.Following this merger, Credit Suisse (Schweiz) AG has been deregistered from the Commercial Register of the Canton of Zurich and no longer exists as a separate business. Consequently, UBS Switzerland AG now owns all the rights and obligati ...

UBS Group AG (UBS) is re-aligning its wealth-management business, the bank's flagship business, to improve its offerings to ultra-rich clients. This was disclosed in an internal memo by Rob Karofsky and Iqbal Khan, the unit’s new co-leaders according to Reuters.The bank has announced that starting from Jul 1, 2024, it will establish a new division known as GWM Solutions to consolidate different products for clients. The new unit will offer services, including investment management, lending, family and insti ...

公司动态 - UBS集团正在向瑞士当局寻求澄清，在收购瑞士信贷后，银行需要额外持有多少资本缓冲[1] - 投资者担心谈判可能会延迟数月[1] - UBS的高管对政府在四月发布的“大到不能倒”建议感到宽慰，这些建议在瑞士信贷崩溃后出乎意料地灵活和适度[2] - 新任瑞士金融市场监督机构（FINMA）负责人Stefan Walter表示，希望UBS维持更多资本，这引起了担忧[3] - UBS可能需要额外持有150亿至250亿美元资本，这还不包括已经承诺持有的190亿美元，以反映其扩大后的规模[4] - UBS的执行官认为，额外的义务可能会使其在与美国和欧洲同行的竞争中处于不利地位[7] - 由于这种不确定性，过去三个月UBS集团的股价下跌了4.1%，而德意志银行（DB）下跌了0.4%，汇丰控股（HSBC）上涨了15%[8] - UBS在2024年4月宣布了一项新的两年期股票回购计划，计划回购高达20亿美元的股票[8] - 更严格的规则可能迫使UBS出售更多资产以创造额外资本，影响其向股东返还现金的意图[9] - 截至2024年3月31日，UBS的普通股权一级资本（CET1）比率为14.8%，而DB和HSBC的CET1资本比率分别为13.4%和15.2%[10] - 瑞士的新规定预计将在2025年底或2026年初生效，2025年初联邦委员会预计将发布措施草案，随后可能会有六个月的咨询期[11] - FINMA的Walter在五月表示支持银行子公司的“全面资本化”，这意味着UBS可能需要增加其资本[12] - 如果UBS集团提出一个在危机情况下解开银行的稳健策略，并且其他大到不能倒的措施得到加强，FINMA可能会要求较少的资本[13] - 进一步的资本需求对UBS来说是一个关键时刻，根据银行的第一季度数据，新的流动性要求在今年早些时候生效，要求其在压力情况下额外设置流动性[14] 行业影响 - 瑞士信贷去年的崩溃削弱了人们对瑞士稳定性的信心，推动该国建立一个更具弹性的金融部门，资本相关的建议是这些举措的核心[5] - 国际组织金融稳定委员会（Financial Stability Board）今年警告称，瑞士应加强对银行业的控制[6]

Anheuser-Busch InBev stock still looks too expensive to buy.Anheuser-Busch InBev (BUD 3.05%) stock rose 2.8% through 12:05 p.m. ET on Monday after UBS analyst Sanjeet Aujla upgraded shares of the beer giant to buy, and raised its price target to 72 euros (about $77.30).Previously, Aujla had a neutral rating on the stock, and a price target of 62.5 euros (about $67.10).What UBS says about Anheuser-BuschThe analyst likes three things about Anheuser-Busch stock: growth, profit margins, and cash returns, as des ...

UBS Group AG (UBS) announced that Credit Suisse Supply Chain Finance Funds have made an offer to redeem fund units. The company will return 90% of the money invested in Credit Suisse funds linked to the collapse of Greensill Capital. This is part of the effort being undertaken by the Swiss bank to resolve Credit Suisse's difficulties.Investors in the Credit Suisse Supply Chain Finance Funds may choose to redeem 90% of the net asset value determined on Feb 25, 2021. The offer commenced on Jun 17, 2024, and w ...

UBS Group AG (UBS) has started final negotiations with a Beijing-backed fund to divest its China brokerage venture of Credit Suisse as talks with Citadel Securities LLC stalled. This news was reported by Bloomberg, citing people familiar with the matter.Beijing State-Owned Assets Management Co. (“BSAM”), Credit Suisse's Chinese partner - Founder Securities, and UBS Group are now having exclusive talks over the acquisition. By the end of this month, a decision and agreement with the buyer might be achieved.A ...