Analyst Has Zero Hope For UBS

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“They’re not going to be able to repair this bank back to pre-crisis levels,” said Simon Maughan, co-head of European equities at MF Global Ltd. in London, who has a “sell” rating on UBS. “Too much damage has been done, and the world has moved on. Gruebel needs to revise down his targets for the investment bank, as they aren’t going to meet them. The market knows they haven’t got a chance.” [Bloomberg]

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