UBS believes that concerns have been laid to rest in Q3 and that it is not yet too late to buy.

The analyst firm confirms its buy recommendation on the stock and raises its price target to CHF 149 (from CHF 136), which represents a potential upside of 28% from the current price.

' We are raising our estimates following the 'revolutionary' third-quarter results, which proved CFR's less cyclical business model - we expect a further revaluation of the shares' says UBS.

' Group sales for Q3 came in at 5,593 MEUR (+2% on UBSe's estimate of 5,459 MEUR), with organic sales growth of +8% (UBSe's estimate +5%) ' stresses the analyst firm.

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