Deutsche Bank: shares fall after broker cuts target price
(CercleFinance.com) - Deutsche Bank shares are currently down 1.
8% at 9.8 euros on Thursday, after Berenberg cut its price target for the German bank from 12 euros to 8 euros.
Still a seller on the stock, Berenberg says Deutsche Bank is exposed to an industry that is in "structural decline," in which it is losing market share.
"This makes Deutsche Bank unattractive, in our view," the broker adds.
While Berenberg warns that the shares may remain volatile given their valuation, it recommends investors sell them on any rally in the share price.
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.
8% at 9.8 euros on Thursday, after Berenberg cut its price target for the German bank from 12 euros to 8 euros.
Still a seller on the stock, Berenberg says Deutsche Bank is exposed to an industry that is in "structural decline," in which it is losing market share.
"This makes Deutsche Bank unattractive, in our view," the broker adds.
While Berenberg warns that the shares may remain volatile given their valuation, it recommends investors sell them on any rally in the share price.
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.