09:42 AM EDT, 04/29/2026 (MT Newswires) -- BofA Global Research reiterated UBS Group (UBSG.SW) at buy, supported by its 22% pretax profit beat in the first quarter, with analysts saying Wednesday they expect a positive price performance for the stock.

As of mid-afternoon trading in Switzerland, shares of the banking group were nearly 5% in the green.

"UBS is one of our '25 stocks for 2026'and is on our Europe 1 list of top ideas,"the research firm said. "The underlying P&L beat was mainly driven by strong IB, but also better P&C and NCL. WM was 10% beat on strong NNA. Guidance for 2026 was reiterated; underlying RoCET1 in 1Q26 stood at 17%, UBS exit target in 2026e remains at c.15% which we view as increasingly conservative. Buybacks of $3bn by 2Q26 'with aim to do more'is a positive."

BofA also confirmed its price objective of 46 francs for UBS.