Commerzbank: UBS downgrades to 'neutral'

(CercleFinance.com) - UBS has downgraded Commerzbank from "buy" to "neutral," citing "good progress on many metrics" at the German lender, but also rate headwinds that are becoming "too intense.
"

UBS has also cut its target price for the stock from 10.20 euros to 7.40 euros in a report dedicated to European banks on Monday.

Commerzbank shares were down 3% at 7.45 euros in late-morning trading.

Copyright (c) 2019 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.