Commerzbank: Oddo says sell after divestment abandoned

(CercleFinance.com) - On Tuesday morning, an Oddo BHF analyst confirmed a "Reduce" rating on the Commerzbank share, after it announced that it had abandoned the divetment of mBank yesterday.


The abandoning of the planned sale of mBank does not really come as a surprise. It was also contested by some shareholders. The lower equity capital requirements should indeed give CBK more leeway. However, at the same time, 'CBK 5.0' is contested - both for its targets (RoTE 2022 > 4%) and its choices (insufficient resizing), the broker points out.

Oddo BHF therefore confirms its target of 3.40 euros for the share, against its current price of about 3.20 euros.


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