UBS Lowers Avolta to Neutral, Cuts Price Target by Nearly a Quarter Citing Middle East-Driven Airline Risk
UBS downgraded Avolta from Buy to Neutral and reduced its 12-month price target to CHF48 from CHF63, pointing to heightened earnings risk stemming from the Middle East conflict and resulting disruptions in the airline industry. The bank lowered near-term EPS and organic sales growth forecasts, adjusted margin and discount-rate assumptions, and outl…