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FINWIRES

RBCによると、UBSグループの中核的な「強み」は、サステナビリティに関する懸念にもかかわらず、第1四半期に輝きを放った。

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-- RBCキャピタル・マーケッツは木曜日のレポートで、UBSグループ（UBS）の第1四半期決算は、中核事業モデルの「強さ」を際立たせ、将来の株主還元に対する信頼感を高めたものの、今四半期の傾向は必ずしも持続可能ではない可能性があると述べた。 同レポートによると、「力強い収益成長」、規律あるコスト管理、そして堅実な資本創出により、UBSは将来の資本分配と自社株買いにおいてより大きな「柔軟性」を得た。また、今四半期のオーガニック資本創出は30ベーシスポイントに達し、「規制上の逆風」を相殺し、2026年の潜在的な分配を支える要因となったとしている。 さらに、RBCは、予想よりも緩やかな「条例改正」により、規制圧力からの「わずかな緩和」が見られたと指摘。これにより、以前の予測よりも70億ドルの恩恵が得られると推定している。しかしながら、「外国子会社資本化」に関する提案規則は依然として「予想通り厳しい」ものであり、資本効率の低下を招く可能性があるとRBCは述べている。 UBSのウェルスマネジメント事業は、米州とアジア太平洋地域で力強い成長を見せており、その背景には「顧客活動の活発化」、預金・融資の伸び、そして収益性の改善傾向が見られると、同レポートは述べている。 RBCはUBSの投資判断を「アウトパフォーム」とし、目標株価を37スイスフランから38スイスフラン（48.75ドル）に引き上げた。

Price: $44.46, Change: $-0.75, Percent Change: -1.66%

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