Societe Generale downgraded Julius Baer to Hold from Buy with a CHF 56 price target. The analyst cites a “range of concerns” for the downgrade. Baer’s 10-month trading update disappointed investors with a range of concerns regarding credit quality, revenues and efficiency, the analyst tells investors in a research note. The firm says it is very surprising that these have arisen in the short timeframe of July to October.
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