DWS: Credit Suisse upgrades stock
(CercleFinance.com) - In its comments on asset managers in Europe, Credit Suisse has upgraded its rating on the DWS share from "neutral" to "outperform," despite cutting its corresponding target price from 38 euros to 26 euros, in the wake of a 19%-29% cut in EPS estimates over 2020-2022.
The broker says that it sees the German group as being "well placed to manage its costs in a difficult environment, yet suffering one of the worst share price declines since the current crisis began".
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