BofA Reaffirms UBS Group at Buy After Q3 Results

07:53 AM EDT, 10/28/2026 (MT Newswires) -- BofA Global Research maintained UBS Group's (UBSG.SW) buy rating, viewing the Swiss bank's third-quarter results positively despite net profit coming in below expectations. The group's net profit attributable to shareholders stood at $2.69 billion in the three months ended Sept. 30, against the research firm's $3.16 billion forecast and the consensus estimate of $2.71 billion, according to a Wednesday note. "The miss was due to the interest hedging book driving the loss in corporate centre on higher rates. Profit before tax was a 9% beat. The beat was across all key units (ex GWM and corp. centre)," analysts wrote. "Guidance for 2026 was reiterated; underlying RoCET1 in 9M26 stood at 16.7%, UBS said to be 'well positioned to outperform' exit target in 2026e of c.15% which we view as increasingly conservative. Buybacks of $3bn to be completed sooner and another program due with 4Q results." BofA added that UBS is part of its "25 stocks for 2026" and Europe 1 list of top ideas. The stock's price objective stands at 51 francs.