Barclays reaffirms its 'overweight' recommendation on Julius Baer with a price target raised from 57 to 63 Swiss francs, pointing to the Swiss private bank's attractive valuation and 'an alternative on rotation from rate-sensitive names'.

'Julius Baer's net new money (NNM) growth is heading in the right direction after a difficult start. Business prospects also appear to be improving, with sentiment on the main markets improving', adds the broker.

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