 "Credit Suisse")
The time has come for Credit Suisse Group AG to undergo a “final restructuring” to pivot away from investment banking and focus on wealth management, JPMorgan Chase & Co. analysts said, upgrading their rating on the stock to neutral.
While the bank continues to get buffeted by negative newsflow on uncertainty over its strategy, clarity on its restructuring plans can help to restore stability, analysts led by Kian Abouhossein wrote in a note.
Shares jumped as much as 5% on Thursday before paring most of those gains, in the latest gyration for a stock that’s plummeted more than 50% this year as Credit Suisse struggles to contain the impact from losses that have left its investment bank on the ropes.
