RBS: Credit Suisse downgrades stock
(CercleFinance.com) - In its comments on UK domestic banks, Credit Suisse says that it has downgraded its rating on the share of Royal Bank of Scotland (RBS) from "Outperform" to "Neutral", reducing its corresponding target price from 175 pence to 140 pence.
"We think earnings surprises will be limited as cost cutting is priced in, and excess capital return will be only gradual," the broker says.
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