UBS Hits 2008 High as Morgan Stanley Turns Bullish on M&A Upturn
- Morgan Stanley upgrades stock to overweight on deals revival
- UBS shares have soared 60% since Credit Suisse takeover
The UBS headquarters in Zurich.
Photographer: Pascal Mora/BloombergThis article is for subscribers only.
UBS Group AG shares hit their highest levels since the financial crisis on Friday as the stock gained a new bull in Morgan Stanley.
Analyst Giulia Aurora Miotto upgraded the stock to overweight for the first time since assuming coverage last year, predicting that a revival in deal-making will see the Swiss bank’s shares surge more than 25% in the next year. UBS shares rose as much as 5.5% to the highest since May 2008.