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Swiss credit: Warns of losses in connection with the collapse of a large US hedge fund. Can’t put the extent in numbers yet. No financial faux pas that the big bank is currently not stepping into. Deutsche Bank is up to CHF 15 (16) for BUY.Vontobel, on the other hand, stays up to CHF 12 for HOLD.
Comet: Pictet & Cie continues to expand and now holds 5.58 (5.37) percent of the vote.
Adecco: AlphaValue increases to Reduce (Sell) to 60.20 (49.40) Fr.
Aryzta: AlphaValue goes on ADD (Sell) up to 1.10 Fr.
Barry Callebaut: Goldman Sachs is for BUY to 2460 (2360) Fr.
Julius Bär: Kepler Cheuvreux goes to BUY (Hold). Deutsche Bank increases to 57 (50) Fr. with HOLD.
Relief Therapeutics: Partner NeuroRx with positive study results on the Covid-19 active ingredient Aviptadil.
Schaffner: Expects an op. Margin of around 7.5 percent with half-year sales at the previous year’s level.
Schindler: HSBC is for BUY up to 295 (290) Fr.
Sensirion: Credit Suisse increases to CHF 44 (37) with UNDERPERFORM.
SIG Combibloc: Vontobel goes to 21 (17.50) Fr. with HOLD. Only makes minor adjustments to estimates.
SoftwareOne: Morgan Stanley is on OVERWEIGHT to 30.50 (33) Fr. Reduces earnings estimates by up to 18 percent. Stifel is for BUY up to CHF 30 (33). Expect growth to pick up. JP Morgan also keeps the software company in line and is available for OVERWEIGHT up to CHF 28 (30). Deutsche Bank stays for BUY up to CHF 26 (28.50).
UBS: Massachusetts Financial Services once again reduced to below 3 (3.01) percent. Deutsche Bank is for HOLD up to 15 (13) Fr.
Vifor Pharma: UBS increases to CHF 127 (119) with NEUTRAL.
Derivatives: Conspicuous sales in the SWOEJB call warrant SoftwareOne as well as in the two knock-out puts ODAAUV and ODAAZB on the DAX.
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