Deutsche Bank: Credit Suisse still on 'Sell'

(CercleFinance.com) - This morning Credit Suisse confirmed its 'Sell' (Underperform) recommendation for the share of the largest German bank Deutsche Bank, which has just presented a new restructuring plan.

The price target is 6 euros with a downward potential of 10%.

Although they stress the major nature of the restructures announced, the analysts estimate that the 2019 financial year will end with a fifth year of negative EPS, and consider there to be “limited visibility” in 2020.

Because of the time that the German lender would need to re-establish breakeven, and the high execution risk associated with its strategic initiatives, Credit Suisse maintains its position on the share.

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