Deutsche Bank: Berenberg maintains 'sell' rating

(CercleFinance.com) - Berenberg maintains its "sell" rating on Deutsche Bank, with a target price of 5.
5 euros, saying that the the German bank's latest restructuring has had an "inauspicious start."

"While it is on track to deliver on its adjusted cost targets, revenues continue to fall, and the outlook for revenues and returns is under threat from a deteriorating economic and rate environment," the broker pointed out in a note issued this morning.

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