Jefferies reiterates 'Buy' rating for Julius Baer on rebound potential

Price target lowered to CHF 57

Cristian Angeloni
clock • 1 min read

Jefferies has retained its ‘Buy’ rating on Julius Baer, as it has forecast a “partial recovery” for the wealth manager’s share price this year.

However, it has lowered its price target for the firm, in line with earnings, to CHF 57 (£52.73). Julius Baer to review private debt arm following 'European conglomerate' bankruptcy Jefferies analysts Tom Mills, Fangfei Li and Laura Gris Trillo have cut their estimates for 2023-2025 earnings per share by 7-18%, reflecting a weak second half of 2023 and a "lower outlook for rates", they said. They argued Julius Baer's ten-month update released in November "disappointed at virtually every level", which followed the news of a CHF 600m private debt loan exposure to an unnamed European ...

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