UBS upgraded to Buy on buyback potential at Societe Generale

Societe Generale upgraded UBS to Buy from Hold with a price target of CHF 30, up from CHF 25. The firm says the bank could undertake $8B of buybacks in 2026, above the current expectation of $5.9B. The analyst attributes the post-earnings selloff in UBS shares to a short-term focus on the revenue outlook. UBS’s capital return is a long-term positive, the analyst tells investors in a research note.