Wall Street analysts were split on whether they should buy into Credit Suisse — though they found central bank support of the troubled Swiss firm reassuring. U.S.-listed Credit Suisse shares jumped more than 6% in Thursday premarket trading after the firm said it would borrow up to 50 billion Swiss francs ($54 billion) from the Swiss National Bank. Earlier, the central bank said it would give Credit Suisse liquidity if necessary, saying the firm is well capitalized. On Wednesday, Credit Suisse shares tumbled 13.9% after the firm’s largest investor, the Saudi National Bank, said it could not give more funding, driving fears of a banking crisis in Europe. However, following the decision to borrow from the central bank, JPMorgan’s Roberto Henriques reiterated an overweight rating on the firm. The analyst expects that the “central bank bazooka” will assuage investors concerned over liquidity issues and give Credit Suisse enough time to roll out a restructuring plan. CS 5D mountain Credit Suisse shares 5-day “The combination of measures should be sufficient to stem the negative moves across the capital structure as the market priced in the potential impact of liquidity pressures,” Henriques wrote to clients. “We think that the coordinated move between the regulator, FINMA, and the Central Bank … highlights that, even though Switzerland has been one of the most proactive jurisdictions on addressing Too Big To Fail, the consequences of such an event are still very difficult to control, especially if we think about the global consequences of the failure of a smaller US banks such as SVB,” he added. “While we have clearly been caught offside by the recent volatility in Credit Suisse, we maintain our Overweight recommendation, as we think recent re-pricing is overdone,” Henriques said. To be sure, Henriques noted that any further market volatility could hurt investor sentiment. Separately on Thursday morning, RBC Capital Markets’ Anke Reingen reiterated a neutral rating on the bank. The analyst said both the stronger liquidity position and backstop from the central bank are positives for the Swiss firm, but worried over more challenges in the horizon. “Regaining trust is key for the CS shares. Measures taken should provide some comfort that a spillover to the sector could be contained, but the situation remains uncertain,” Reingen wrote in an early Thursday note. Meanwhile, Bank of America’s Alastair Ryan reiterated a buy rating, saying the joint statement put out by the Swiss National Bank and FINMA statement are “clear and supportive.” Not to mention, Credit Suisse is “strongly capitalized.” “Rapid recent falls in Credit Suisse debt prices reflected the pre-existing challenges the bank faced, but also the large amounts outstanding, including CHF49bn of ‘gone concern’ bonds at end-2022, and the difficulty in pricing the risk of a regulatory intervention. The statement from the authorities is to us clear that Credit Suisse in its current form will continue,” Ryan wrote. “In effect, regulatory support has been provided through this statement, but without any change in the structure or going concern nature of Credit Suisse. We think this materially de-risks the group from an investor perspective,” Ryan said. Elsewhere, on Wednesday, UBS’ analyst Daniele Brupbacher maintained a neutral rating, preferring to “stay on the sidelines” given the “challenges to resolve.” “While we think CS remains in execution mode working towards its targets, given uncertainties on many fronts a material re-rating over the coming quarters seems unlikely,” Brupbacher wrote. —CNBC’s Michael Bloom contributed to this report.