Deutsche Bank Shares Hit All-Time Low After UBS Cuts Rating To Sell

Fight Censorship, Share This Post!

With its hoped-for merger with Commerzbank in ruins, and the future of its investment bank uncertain, Deutsche Bank shares tumbled to a new all-time low on Monday after an analyst at UBS downgraded DB shares to a sell with a price target of €5.70 ($6.40) – that’s the second-lowest price target on Wall Street.

After Monday’s selloff, shares aren’t far from that level.

DB

UBS analysts led by Daniele Brupbacher wrote that operating conditions for Germany’s biggest lender are expected to remain “difficult” and its strategic options are “limited.” The bank remains vulnerable to “external events.”

They also cut EPS estimates for 2020 to 2022 by 25%, 18% and 12% respectively, based on lower revenue assumptions.


This post has been republished with implied permission from a publicly-available RSS feed found on Zero Hedge. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.


Fight Censorship, Share This Post!

Read the original article.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.