{"id":895,"date":"2026-02-11T16:11:08","date_gmt":"2026-02-11T16:11:08","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/895\/"},"modified":"2026-02-11T16:11:08","modified_gmt":"2026-02-11T16:11:08","slug":"natwest-may-have-spooked-investors-but-this-swiss-bank-reckons-its-still-a-buy","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/895\/","title":{"rendered":"Natwest may have spooked investors, but this Swiss bank reckons its still a &#8216;buy&#8217;"},"content":{"rendered":"<p>    <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.europesays.com\/ch\/wp-content\/uploads\/2026\/02\/be24f458ac1360286f55766f233abf66.jpeg\" alt=\"Natwest may have spooked investors, but this Swiss bank reckons its still a 'buy'\" loading=\"eager\" height=\"539\" width=\"960\" class=\"yf-lglytj  loaded\"\/> Natwest may have spooked investors, but this Swiss bank reckons its still a &#8216;buy&#8217; Proactive uses images sourced from Shutterstock      <\/p>\n<p class=\"yf-vbsvxt\"><a href=\"https:\/\/finance.yahoo.com\/quote\/NWG.l\" data-ylk=\"slk:NatWest Group PLC&#039;s;elm:context_link;itc:0;sec:content-canvas\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">NatWest Group PLC&#8217;s<\/a>\u00a0\u00a32.7bn deal to buy Evelyn Partners may have spooked the market, but analysts at\u00a0UBS think\u00a0the share sell-off looks like an overreaction, and, as such they&#8217;ve\u00a0kept a &#8216;Buy&#8217; rating with a 780p price target, implying almost 29% upside from 605p.<\/p>\n<p class=\"yf-vbsvxt\">On Monday, the UK bank confirmed the acquisition of Evelyn Partners for \u00a32.7bn &#8211; that&#8217;s\u00a015.1x FY25 adj\u00a0EBITDA of \u00a3179m, for 130bps,\u00a0UBS said &#8211;\u00a0framing the purchase as a meaningful but manageable capital deployment.<\/p>\n<p class=\"yf-vbsvxt\">UBS highlighted that\u00a0NatWest has flagged some \u00a3100m of targeted cost synergies, while stressing that Evelyn\u2019s profit pool remains small relative to NatWest\u2019s wider earnings base.<\/p>\n<p class=\"yf-vbsvxt\">Investors are likely to focus on the deal maths in Friday\u2019s 4Q25 results, UBS added, arguing that even if the bank may struggle to hit an 11% ROIC by FY28 on a clean run-rate basis, the transaction broadens NatWest\u2019s wealth and investment proposition in a way that supports a \u201cfaster growing, higher ROTE bank.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Natwest may have spooked investors, but this Swiss bank reckons its still a &#8216;buy&#8217; Proactive uses images sourced&hellip;\n","protected":false},"author":2,"featured_media":896,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1184,1186,41,1085,17,1185],"class_list":{"0":"post-895","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-switzerland","8":"tag-evelyn-partners","9":"tag-natwest","10":"tag-swiss","11":"tag-swiss-bank","12":"tag-switzerland","13":"tag-uk-bank"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/895","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=895"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/895\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/896"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}