FlatexDEGIRO: Deutsche Bank upgrades to 'buy'

(CercleFinance.com) - Deutsche Bank announced on Wednesday that it had upgraded its recommendation on the flatexDEGIRO share from 'hold' to 'buy', also increasing its target price from E9 to E13.


In its comments, the broker believes that it is time to take another look at the case, now that the integration of DEGIRO has been completed and the dispute with the German financial regulator (BaFin) has been settled.

The analyst also points to the clear improvement in the performance of the online broker's key business indicators, as well as its recently unveiled plans for capital redistribution.

As the dust settles, analysts believe that 2024 could be an opportunity for flatexDEGIRO to refocus on commercial issues and continue to grow its core businesses, DB concludes.


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