Danske Bank: shares drop after downgrade
(CercleFinance.com) - Shares in Danske Bank slipped on Thursday after Morgan Stanley cut its rating on the stock from "overweight" to "equal weight" and trimmed its target price from 290 Danish kronor to 270 Danish kronor.
In a report about Nordic banks entitled "A Still Fragile Equilibrium," the broker also said that it has raised its rating on Sweden's Nordea from "equal weight" to "overweight," raising its target price for the share from 99 Swedish kronor to 110 Swedish kronor.
Shares in Danske Bank were down 0.5% at 224 Danish kronor, while Nordea was up 0.8% at 88.6 Swedish kronor after these comments.
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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.
In a report about Nordic banks entitled "A Still Fragile Equilibrium," the broker also said that it has raised its rating on Sweden's Nordea from "equal weight" to "overweight," raising its target price for the share from 99 Swedish kronor to 110 Swedish kronor.
Shares in Danske Bank were down 0.5% at 224 Danish kronor, while Nordea was up 0.8% at 88.6 Swedish kronor after these comments.
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.