Finance

Deutsche Bank gets its first broker upgrade after mass restructure

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UBS has become the first broker to upgrade Deutsche Bank‘s stock following its initiation of a historic restructuring program.

In a note published Friday, UBS analysts upgraded the German lender’s stock from a “sell” to “neutral” and raised its 12-month price target from 5.70 euros ($6.42) a share to 6.60 euros, on the basis that the new strategy would yield a more balanced risk to reward ratio.

UBS analysts Daniele Brupbacher, Mate Nemes and Nichole Maroun suggested Deutsche would pursue “more aggressive cost cuts and regulatory support potentially resulting in lower capital requirements.”

Deutsche Bank will see 18,000 jobs cut by 2022 and the closure of its global equities sales and…



Source cnbc.com

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