Investment rating changes were mixed for financial stocks on Wednesday, while Amazon received an upgrade despite persistent concerns about future consumer spending.
Amazon was added to UBS's “most preferred” list in a report released Wednedsay. The report noted that e-commerce’s share of discretionary spending is growing faster than spending at brick-and-mortar stores, particularly among lower-income consumers.
UBS also upgraded Citigroup to “most preferred”, saying that as long as they’re “not facing questions about its capital position, we believe it should trade at a higher multiple.”
Among other investment ratings changes Wednesday:
CNBC Data Pages:
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UBS or a related company played a role in the underwriting or placement of securities, or provided investment banking or other services to one or more of the companies mentioned within the past 12 months. Disclosure information was not available for other companies.