Report published September 24, 2026
The Point for Europe: Citi Daily Research & Market Insights (24 September 2026)
Citi · September 24, 2026
Citi's European morning note highlights a double-upgrade of MTU Aero Engines to Buy and an examination of AI adoption in Healthcare. Key company updates include an unfavorable Swiss capital vote for UBS, a downgrade of Smiths Group, and positive trial data for Roche.
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Finvaulta summarizes Citi's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.MTU Aero Engines is double-upgraded from Sell to Buy with a €445 target price as cash conversion is set to inflect from 55% toward 80-90% by 2030.
- 2.The Swiss upper house passed capital legislation requiring UBS to fully capitalise international subsidiaries with a 90/0 CET1/AT1 split, resulting in an estimated ~$17bn in required gross additional capital.
- 3.Smiths Group is downgraded from Buy to Neutral after hitting record share highs and completing key legacy liability disposals.
Table of Contents
- Top Call
- Company
- Industry
- Strategy & Economics
- Fixed Income & FX
Report data
Team Directory
| Metric | Estimate | Context |
|---|---|---|
| MTU Aero Engines Price Target | 445.00 EUR | New TP set upon double-upgrade from Sell to Buy. |
| UBS Additional Capital Requirement | 17 USD billion | Estimated capital needed to fully capitalise international subsidiaries under new Swiss motion. |
| Bloomberg Euro Treasury Index Projected Extension | 0.07 years | Comparison versus the 5-year median monthly extension of 0.05 years. |
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The Point for Europe is shown in chronological order through this edition, published on September 24, 2026.
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