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thyssenkrupp: Deutsche Bank resumes coverage with 'Hold'

(CercleFinance.com) - On Monday Deutsche Bank resumed its coverage of the thyssenkrupp share with a "hold" rating and a target price of seven euros.


In comments sent to its clients, the broker refers to a risk/return profile that has become "balanced" once again at current levels.

While it considers that a potential consolidation in the steel business and possible divestments could generate value over the medium term, Deutsche Bank believes that the market is overly optimistic about the German industrial group's cash position.

In particular, the broker fears that thyssenkrupp will consume a large share of the funds from the sale of its elevator branch until a real turnaround in its activity is seen.


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