Deutsche Bank: boosted by broker upgrade
(CercleFinance.com) - Just about keeping afloat in Frankfurt, (-0.
3% at noon), the Deutsche Bank share is one of the best performers in the DAX index on Tuesday (-1.5%), benefiting from an upgrade from Barclays analysts.
In a research note released this morning, the British bank said that it had upgraded the share from "underweight" to "equal weight", having increased its corresponding target price from 8 euros to 9.5 euros.
In its comments, Barclays explains that it is more optimistic about the German group's investment banking business, which could benefit from its long exposure to SPACs, a theme that is currently seen as promising.
Special purpose acquisition companies - or SPACs - are investment vehicles whose sole purpose is to complete acquisitions.
Yesterday, Berenberg analysts increased their target price for Deutsche Bank shares from 5 euros to 7 euros, praising the group's progress in reducing costs, while maintaining a "sell" recommendation on the stock.
Copyright (c) 2021 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.
3% at noon), the Deutsche Bank share is one of the best performers in the DAX index on Tuesday (-1.5%), benefiting from an upgrade from Barclays analysts.
In a research note released this morning, the British bank said that it had upgraded the share from "underweight" to "equal weight", having increased its corresponding target price from 8 euros to 9.5 euros.
In its comments, Barclays explains that it is more optimistic about the German group's investment banking business, which could benefit from its long exposure to SPACs, a theme that is currently seen as promising.
Special purpose acquisition companies - or SPACs - are investment vehicles whose sole purpose is to complete acquisitions.
Yesterday, Berenberg analysts increased their target price for Deutsche Bank shares from 5 euros to 7 euros, praising the group's progress in reducing costs, while maintaining a "sell" recommendation on the stock.
Copyright (c) 2021 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.