Deutsche Bank: Oddo downgrades to 'reduce'
(CercleFinance.com) - Oddo has downgraded its rating on Deutsche Bank to "reduce" from "neutral" and has lowred its price target to 9.
4 euros "after disappointing announcements from the new management".
"DBK will be unable to get sufficient profitability to face a potential turnaround. This specific risk on future capital impacts the valuation", explains Oddo.
"The few figures published for the first-quarter 2018 results suggest that the additional restructures are finally limited", adds the analyst firm.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
4 euros "after disappointing announcements from the new management".
"DBK will be unable to get sufficient profitability to face a potential turnaround. This specific risk on future capital impacts the valuation", explains Oddo.
"The few figures published for the first-quarter 2018 results suggest that the additional restructures are finally limited", adds the analyst firm.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.