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Stock impact report

RBC Capital Markets Cuts UBS PT While Adjusting AUM Assumptions [Yahoo! Finance]

UBS Group AG Registered Ordinary Shares (UBS) 
Company Research Source: Yahoo! Finance
On April 7, RBC Capital lowered its price recommendation on UBS Group AG (NYSE:UBS) to CHF 37 from CHF 38. It reiterated an Outperform rating on the shares ahead of its Q1 results. The analyst said the firm is adjusting its model to reflect lower assets under management for UBS, as outlined in a research note. On March 20, Reuters reported that UBS secured a national banking licence in the United States. The Swiss bank said the approval marks a step forward in its effort to expand its wealth management business in the world's largest economy.UBS confirmed that its application for a national bank charter had been approved by the Office of the Comptroller of the Currency. The move comes as the bank works through stricter regulatory requirements in Switzerland. The bank had applied to convert UBS Bank USA into a nationally chartered institution. This change will allow it to offer a full range of services similar to US banks, including checking accounts, savings accounts, and mortgag Show less Read more
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