DWS: UBS initiates coverage with 'neutral' rating
(CercleFinance.com) - UBS initiated on Wednesday its coverage of DWS, Deutsche Bank's asset management arm, with a "neutral" rating, citing caution over a "challenging" 2018 year.
While saying that the group's long-term outlook is "positive," the broker is a little more sceptical in the short term.
"We expect cost savings initiatives to drive earnings tailwinds for DWS in 2019 and beyond but see few positive catalysts in the next 6-12 months," UBS analysts said in a research note.
UBS has set a target price of 31 euros for the DWS share.
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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.
While saying that the group's long-term outlook is "positive," the broker is a little more sceptical in the short term.
"We expect cost savings initiatives to drive earnings tailwinds for DWS in 2019 and beyond but see few positive catalysts in the next 6-12 months," UBS analysts said in a research note.
UBS has set a target price of 31 euros for the DWS share.
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.