UBS upgrades Close Brothers to buy with 555p target as motor redress fears seen overdone

Close Brothers Group PLC (LSE:CBG), the UK specialist lender, has been upgraded to 'buy' from 'neutral' by UBS, which argues the stock's near-40% decline year-to-date has created a compelling entry point that materially undervalues the group's recovery prospects. UBS retained its 555p price target, implying more than 40% upside to the current 383p share price.