Royal Bank of Scotland: Berenberg maintains 'buy' rating

(CercleFinance.com) - Germany's Berenberg maintains a "buy" rating on the Royal Bank of Scotland share, with a target price of 340 pence, saying that the bank's position is increasingly strong.


"While further change is needed to reduce costs, progress remains reassuring," the broker wrote in a research note.

Berenberg also said that the group's capital position, along with capital generation and success in growing UK mortgages should support material capital returns, as well as attractive and sustainable growth in revenues.

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