Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

UCB (UCB.BR)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (€)	Price Target (€)	Rating
2022-03-30	107.45	105.00	Neutral
2022-05-16	88.64	95.00	Neutral
2022-06-24	80.94	87.00	Neutral
2022-07-13	84.66	88.00	Neutral
2022-08-19	73.38	-	No Rating
2023-05-30	79.32	105.00	Buy
2023-12-11	76.60	100.00	Buy
2024-03-06	109.00	130.00	Buy
2024-04-26	124.55	140.00	Buy
2024-07-30	158.35	180.00	Buy
2024-11-01	180.40	200.00	Buy
2025-02-20	179.50	230.00	Buy

Disclosures

UBS holds a long or short position of 0.5% or more of the listed shares of this company.

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.