Treasury Wine Estates Limited (TSRYF) Receives a Buy from UBS
In a report released today, Shaun Cousins from UBS maintained a Buy rating on Treasury Wine Estates Limited (TSRYF – Research Report), with a price target of A$12.00. The company's shares closed last Monday at $4.90.
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Cousins covers the Consumer Cyclical sector, focusing on stocks such as Wesfarmers Limited, Lovisa Holdings Ltd., and Premier Investments Limited. According to TipRanks, Cousins has an average return of 2.1% and a 50.29% success rate on recommended stocks.
In addition to UBS, Treasury Wine Estates Limited also received a Buy from Morgans's Belinda Moore in a report issued today. However, on June 2, Citi maintained a Hold rating on Treasury Wine Estates Limited (Other OTC: TSRYF).
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Yahoo
33 minutes ago
- Yahoo
Analysis-Shaken by crises, Switzerland fetters UBS's global dream
By Ariane Luthi and John O'Donnell BERN (Reuters) -Switzerland announced reforms on Friday to make its biggest bank UBS safer and avoid another crisis, hampering the global ambitions of a lender whose financial weight eclipses the country's economy. UBS emerged as Switzerland's sole global bank more than two years ago after the government hastily arranged its rescue of scandal-hit Credit Suisse to prevent a disorderly collapse. The demise of Credit Suisse, one of the world's biggest banks, rattled global markets and blindsided officials and regulators, whose struggle to steer the lender as it lurched from one scandal to the next underscored their weakness. On Friday, speaking from the same podium where she had announced the Credit Suisse rescue in 2023 as finance minister, Switzerland's president Karin Keller-Sutter delivered a firm message. The country would not be wrongfooted again. "I don't believe that the competitiveness will be impaired, but it is true that growth abroad will become more expensive," Keller-Sutter said of UBS. "We've had two crises. 2008 and 2023," she said. "If you see something that is broken, you have to fix it." During the global financial crisis of 2008, UBS was hit by a losses in subprime debt, as a disastrous expansion into riskier investment banking forced it to write down tens of billions of dollars and ultimately turn to the state for help. Memories of that crisis also linger, reinforcing the government's resolve after the collapse of Credit Suisse. For UBS, which has a financial balance sheet of around $1.7 trillion, far bigger than the Swiss economy, the implications of the reforms proposed on Friday are clear. Switzerland no longer wants to back its international growth. "Bottom line: who is carrying the risk for growth abroad?" said Keller-Sutter. "The bank, its owners or the state?" The rules the government proposed demand that UBS in Switzerland holds more capital to cover risks in its foreign operations. That move, one of the most important steps taken by the Swiss in a series of otherwise piecemeal measures, will make UBS's businesses abroad more expensive to run for one of the globe's largest banks for millionaires and billionaires. Following publication of the reform plans, UBS Chairman Colm Kelleher and CEO Sergio Ermotti said in an internal memo that if fully implemented, they would undermine the bank's "global competitive footprint" and hurt the Swiss economy. STRATEGY The reform would require UBS to hold as much as $26 billion in extra capital. Some believe the demands may alter the bank's course. "It could be that UBS has to change its strategy of growth in the United States and Asia," said Andreas Venditti, an analyst at Vontobel. "It's not just growing. It makes the existing business more expensive. It is an incentive to get smaller and this will most likely happen." Credit Suisse's demise exploded the myth of invincibility of one of the wealthiest countries in the world, home to a global reserve currency, and proved as unworkable a central reform of the financial crisis to prevent state bailouts. For many in Switzerland, the government's reforms are long overdue. "The bank is bigger than the entire Swiss economy. It makes sense that it should not grow even bigger," said Andreas Missbach of Alliance Sud, a group that campaigns for transparency. "It is good that the government did not give in to lobbying by UBS. The question is whether it is enough. We have a banking crisis roughly every 12 years. So I'm not really put at ease." UBS CEO Ermotti had lobbied against the reforms, arguing that a heavy capital burden would put the bank on the back foot with rivals. The world's second-largest wealth manager after Morgan Stanley is dwarfed by its U.S. peer. Morgan Stanley shares value the firm at twice its book value, compared with UBS's 20% premium to book. On Friday, the bank reiterated this message, saying that it strongly disagreed with the "extreme" increase in capital. But others are sceptical that the government has done enough. Hans Gersbach, a professor at ETH Zurich, said there was still no proper plan to cope should UBS run into trouble. "The credibility of the too big to fail regime remains in question." (Additional reporting by Dave Graham and Oliver Hirt in Zurich; Writing By John O'Donnell; editing by David Evans) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
an hour ago
- Miami Herald
Swiss government proposes requiring banks to hold more capital
June 6 (UPI) -- Switzerland's Federal Council Friday submitted new capital requirements for mega-banks like UBS in the wake of the Credit Suisse crisis. It requires UBS to hold $26 billion more in core capital. The Swiss Federal Council said in a statement that a review of the Credit Suisse crisis showed reforms are needed to reduce risks for the state, taxpayers and the economy. "These include stricter capital requirements for systemically important banks with foreign subsidiaries, additional requirements on the recovery and resolution of systemically important banks, the introduction of a senior managers regime for banks and additional powers for the Swiss Financial Market Supervisory Authority (FINMA)," the Federal Council statement said. The council is proposing amendments to the Banking Act in the wake of the Credit Suisse crisis that led to the UBS/CS merger. The Swiss National Bank supported the proposed amendments. "The Swiss National Bank supports the amendments at legislative and ordinance level planned by the Federal Council in the areas of capital and liquidity requirements for systemically important banks, early intervention, and recovery and resolution planning. The measures planned are key to strengthening banks' resilience and their resolvability in a crisis, and thus the stability of the financial system." "The crisis at Credit Suisse highlighted weaknesses in the regulatory framework. The regulatory adjustments now planned constitute a package of measures drawing the right lessons from this crisis." One major concern about UBS is its ability to cope with losses in its foreign units, and that's one of the reasons the Swiss government is increasing capital requirements. FINMA said it also backs the proposed changes ot the Banking Act. "FINMA welcomes the planned introduction of several preventive and disciplinary instruments that will set the right incentives for supervised institutions and thus make a decisive contribution to reducing the likelihood of crises and resolution occurring in the Swiss banking centre." FINMA said in particular, it supports, "the planned new statutory powers for FINMA in the areas of corporate governance, early intervention, recovery and resolution, as well as the introduction of higher capital requirements for systemically important banks with subsidiaries abroad." Morningstar senior equity analyst Johann Scholtz said in a note, "While winding down Credit Suisse's legacy businesses should free up capital and reduce costs for UBS, much of these gains could be absorbed by stricter regulatory demands." The new capital rules would require UBS to fully capitalize its foreign branches and do fewer stock buybacks. UBS took over Credit Suisse in 2023, with the government underwriting $10 billion in UBS losses created by the takeover. Copyright 2025 UPI News Corporation. All Rights Reserved.
Bloomberg
an hour ago
- Bloomberg
UBS's $26 Billion Capital Hit Isn't Quite as Bad as It Seems
The $26 billion headline capital charge to protect Swiss taxpayers from the risk that UBS Group AG ever fails is worse than anyone expected. And yet UBS's shares jumped as much as 8% on the news Friday – what gives? It's not that investors now know the costs of Switzerland's beefed-up 'too big to fail' rules, which follow Credit Suisse's 2023 collapse. There's a lot of uncertainty about the draft law's final form. Most likely UBS shares have jumped because investor judge that the final bill will be lower – and because they know it's not due to be paid in full until 2034 at the earliest.
