1124 GMT - UBS Group has benefited from higher-than-expected efficiency gains from its integration of Credit Suisse, but this tailwind is fading, analysts at Goldman Sachs say in a note. The Swiss bank's 2028 guidance is broadly aligned with consensus views, Goldman Sachs says. "While we expect there may be a degree of conservatism baked into the targets, we expect lower potential for outperformance compared with the prior phase of the integration cycle," the analysts say. This is due to demand for reinvestment within the business and future savings coming from core divisions rather than units designed with the goal of being wound down, they add. Goldman Sachs cuts its recommendation on the stock to neutral from buy, and lowers its target price to 38 Swiss francs from 41.50 francs. Shares fall 1.5% to 33.48 francs. (adria.calatayud@wsj.com)

(END) Dow Jones Newswires

February 06, 2026 06:24 ET (11:24 GMT)

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