Goldman Sachs analyst Benjamin Caven-Roberts has maintained their bullish stance on BAER stock, giving a Buy rating on November 10.
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Benjamin Caven-Roberts has given his Buy rating due to a combination of factors that highlight Julius Baer Group’s strong financial performance and strategic decisions. The company reported a record level of assets under management, reaching CHF520 billion, driven by favorable global equity markets and consistent net new money inflows from key regions like Asia, Western Europe, and the Middle East. This growth in assets under management reflects the company’s robust market position and effective client acquisition strategies.
Additionally, Julius Baer’s completion of its credit review marks a significant step in addressing legacy credit issues, with a focus on managing down a specific loan portfolio to align with its revised risk appetite. The company’s decision to concentrate on its core wealth management services, such as Lombard loans and residential mortgages, demonstrates a strategic refocus that enhances its financial stability. The strengthened CET1 ratio and improved operating leverage further support the positive outlook, justifying the Buy rating from Caven-Roberts.
According to TipRanks, Caven-Roberts is a 4-star analyst with an average return of 18.7% and a 100.00% success rate. Caven-Roberts covers the Financial sector, focusing on stocks such as NatWest Group, Lloyds Banking, and Julius Baer Group Ltd.
In another report released on November 10, RBC Capital also maintained a Buy rating on the stock with a CHF69.00 price target.