Deutsche Bank: shares lower after downgrade
(CercleFinance.com) - Deutsche Bank shares were trading 1% lower at 6.
8 euros on Monday after UBS downgraded the stock due to "ongoing headwinds" and "limited optionality."
UBS analysts have downgraded their rating on the stock from "neutral" to "sell," also cutting for the share their target price from 7.80 euros to 5.70 euros.
"Ongoing headwinds result in lower EPS," the broker warned in a note to clients.
The German lender has been recently plagued by concerns about its balance sheet, liquidity and asset quality, leading proxy advisory firm Institutional Shareholder Services to issue a negative recommendation against the German bank's board.
Deutsche Bank will hold its annual general meeting in Frankfurt this Thursday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
8 euros on Monday after UBS downgraded the stock due to "ongoing headwinds" and "limited optionality."
UBS analysts have downgraded their rating on the stock from "neutral" to "sell," also cutting for the share their target price from 7.80 euros to 5.70 euros.
"Ongoing headwinds result in lower EPS," the broker warned in a note to clients.
The German lender has been recently plagued by concerns about its balance sheet, liquidity and asset quality, leading proxy advisory firm Institutional Shareholder Services to issue a negative recommendation against the German bank's board.
Deutsche Bank will hold its annual general meeting in Frankfurt this Thursday.
Copyright (c) 2019 CercleFinance.com. All rights reserved.