UBS has reaffirmed its 'buy' recommendation on Julius Baer, and raised its target price from CHF 57.8 to CHF 60, a new target with 8% upside potential for the Swiss wealth management bank's shares.

In the summary of its note, the broker points to higher forecasts for the 2025-26 period, thanks to higher assets under management (AuM) offsetting weak net new money (NNM) inflows.

'Better capital underpins stronger share buybacks', continues UBS, adding that while questions remain over NNM generation, an improvement in NNM should come later.

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