Deutsche Bank: gains 2% after plan, analyst opinion
(CercleFinance.com) - Deutsche Bank is up 2% in Frankfurt after presenting a plan to cut 18,000 jobs and to exit its equities sales and trading business.
The financial institution aims to reduce adjusted costs by approximately 6 billion euros, to bring them down to 17 billion in 2022.
Oddo remains on 'reduce' for the share with a price target of 7.10 euros after presenting this reorganisation plan.
“We anticipate that this plan will in particular aim to resume merger talks with CBK” indicates the analysts' firm.
“The plan confirms that a capital increase is unrealistic and that the German government does not wish to be involved”.
“The goal of redressing RoTE to 8% in 2022 is essentially based on cost reductions”, underlines Oddo.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The financial institution aims to reduce adjusted costs by approximately 6 billion euros, to bring them down to 17 billion in 2022.
Oddo remains on 'reduce' for the share with a price target of 7.10 euros after presenting this reorganisation plan.
“We anticipate that this plan will in particular aim to resume merger talks with CBK” indicates the analysts' firm.
“The plan confirms that a capital increase is unrealistic and that the German government does not wish to be involved”.
“The goal of redressing RoTE to 8% in 2022 is essentially based on cost reductions”, underlines Oddo.
Copyright (c) 2019 CercleFinance.com. All rights reserved.