UBS Downgraded by Goldman Sachs as Shares Drop 8% in Week

UBS Group AG was downgraded by a pair of analysts on Friday as shares head for their worst week in nearly 10 months, after outflows at the bank’s US wealth business took the shine off earnings.

Goldman Sachs and Vontobel on Friday cut their recommendations from buy to neutral and hold respectively, leaving the Swiss bank with its weakest standing among analysts since 2017, according to data compiled by Bloomberg. UBS shares are down 8% this week.