Credit Suisse
Credit Suisse was a major Swiss bank headquartered in Zurich until its takeover by UBS in 2023. That year, its global equity research business began ending coverage as the unit was integrated into UBS Global Research. Its HOLT valuation platform also transferred to UBS.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 1112M
- Actions
- 1112M
- Ratings / Price targets
- 0 / 11
- Median upside
- +9.9%
- Targets raised / lowered
- 2 / 0
- On record
- Feb 2012 – Aug 2026
Overview
Its global equity research covered more than 3,000 companies in 40 countries (2014). Coverage termination began on 18 September 2023 as UBS Global Research absorbed the unit; the HOLT valuation platform, acquired in 2002, transferred to UBS in October 2024.
Alfred Escher founded the bank in Zurich in 1856 as Schweizerische Kreditanstalt to finance Swiss railways. It bought a 45% stake in First Boston in a 1988 rescue, took control in 1990 and acquired Donaldson, Lufkin & Jenrette in 2000. After years of losses and scandals, a March 2023 deposit run forced a government-brokered takeover by UBS, completed on 12 June 2023; Credit Suisse AG merged into UBS AG on 31 May 2024.
Milestones
- 1856
Founded in Zurich as Schweizerische Kreditanstalt
- 1988
Buys 45% of First Boston, renamed CS First Boston
- 2000
Acquires Donaldson, Lufkin & Jenrette
- 2002
Acquires HOLT Value Associates
- 2023
Taken over by UBS in emergency rescue
- 2024
Credit Suisse AG merged into UBS AG
Firm facts
- Legal name
- Credit Suisse Group AG
- Type
- Bulge bracket
- Founded
- 1856
- Headquarters
- Zurich, Switzerland
- Rating scale
- OutperformNeutralUnderperform12 months
- Status
- RetiredSucceeded by UBS
Research philosophy
The HOLT methodology, which is constantly evolving, goes beyond traditional accounting information to emphasize cash generating ability and overall potential for value creation.
Credit Suisse's HOLT framework compared each company's cash flow return on investment (CFROI) with its cost of capital, treating returns above that cost as value creation. Drawing on the historical performance of thousands of similar firms, the model estimated a "warranted" valuation and compared it with the expectations implied by the share price. Credit Suisse's research disclosures stated that published research must be impartial, independent, clear, fair and not misleading.
Rating methodology
Stocks were rated Outperform, Neutral or Underperform on expected 12-month total return relative to the analyst's sector coverage in the U.S., Canada, Europe and Japan, and to country or regional benchmarks in Latin America and non-Japan Asia.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
 American Express CompanyAXP | Underperform | $328 |
 BOK Financial CorporationBOKF | — | $116 |
 Popular, Inc.BPOP | — | $156 |
| CCCCIF | — | $3.50 |
 Cherry Hill Mortgage Investment CorporationCHMI | — | $3 |
 Janus International Group, Inc.JBI | — | $9 |
 TPG Mortgage Investment Trust IncMITT | Underperform | $9.25 |
 Morningstar, Inc.MORN | — | $370 |
 Strategy IncMSTR | — | $250 |
 Blue Owl Capital Inc.OWL | Neutral | $9.10 |
Recent actions
| Date | Stock | Rating action | Target |
|---|---|---|---|
| Aug 24 | WSWilliams-Sonoma, Inc.WSM | Target | $155 →$261 |
| Aug 21 | CCCCIF | Target | $3.50 |
| Jul 2 | Blue Owl Capital Inc.OWL | Target | $9.10 |
| Jun 30 | Strategy IncMSTR | Target | $250 |
| Mar 6 | STStarwood Property Trust, Inc.STWD | Target | $19 |
| Mar 6 | Janus International Group, Inc.JBI | Target | $9 |
| Feb 3 | Popular, Inc.BPOP | Target | $156 |
| Jan 22 | TPG Mortgage Investment Trust IncMITT | Target | $9.25 |
| Jan 22 | Cherry Hill Mortgage Investment CorporationCHMI | Target | $3 |
| Jan 12 | American Express CompanyAXP | Target | $170 →$328 |
| Oct 22, 2025 | BOK Financial CorporationBOKF | Target | $116 |
| Mar 3, 2025 | Morningstar, Inc.MORN | Target | $370 |