Deutsche Bank: Barclays raises TP
(CercleFinance.com) - Barclays confirms its 'overweight' recommendation on Deutsche Bank shares, with a target price raised from E22.
60 to E24.80, citing EPS assumptions that are 6%-9% above consensus, despite a 5% reduction therein.
Q4 costs and the new cost/income ratio forecasts disappointed, but it's sales that count, the broker points out after 2024 results were unveiled last week.
Indeed, Barclays considers sales to be the main source of (upside) risk for consensus forecasts if targets are met, and for the year-on-year improvement in RoTE (+2.4bp).
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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
60 to E24.80, citing EPS assumptions that are 6%-9% above consensus, despite a 5% reduction therein.
Q4 costs and the new cost/income ratio forecasts disappointed, but it's sales that count, the broker points out after 2024 results were unveiled last week.
Indeed, Barclays considers sales to be the main source of (upside) risk for consensus forecasts if targets are met, and for the year-on-year improvement in RoTE (+2.4bp).
Copyright (c) 2025 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.