Zacks Upgrades Deutsche Bank to “Outperform” (DB)
Deutsche Bank (NYSE:DB) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a note issued to investors on Monday, Analyst Ratings.Net reports. The firm currently has a $53.00 target price on the stock. Zacks‘ price objective points to a potential upside of 12.36% from the company’s current price.
Zacks‘ analyst wrote, “We are initiating coverage on Deutsche Bank with a long-term Outperform recommendation. The company reported reduced earnings in the second quarter compared with the year-ago quarter. Results were adversely affected by increased expenses, which reflected weak expense management. Moreover, higher provision for credit losses was another dampener. Yet, the headwinds were partially offset by an increase in revenues. Given the stressed operating environment, we don’t expect any significant improvement in earnings in the coming quarters. However, prudent business model changes can lead to improvement in efficiency and bolster its competitive edge. Amid the worldwide economic volatility and still continuing Eurozone crisis, the company is focused on building its capital level. Strategy 2015+ efforts are encouraging and we expect such efforts to help improve its operating efficiency.”
Shares of Deutsche Bank (NYSE:DB) traded down 1.70% during mid-day trading on Monday, hitting $46.37. 458,444 shares of the company’s stock traded hands. Deutsche Bank has a 52 week low of $38.18 and a 52 week high of $53.12. The stock has a 50-day moving average of $45.84 and a 200-day moving average of $44.68. The company has a market cap of $47.256 billion and a price-to-earnings ratio of 194.92.
Deutsche Bank (NYSE:DB) last announced its earnings results on Tuesday, July 30th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.82 by $0.50. The company had revenue of $8.22 billion for the quarter, compared to the consensus estimate of $8.39 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts expect that Deutsche Bank will post $5.25 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity downgraded shares of Deutsche Bank from a “buy” rating to a “hold” rating in a research note to investors on Monday. Separately, analysts at UBS AG upgraded shares of Deutsche Bank from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 16th. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Deutsche Bank from a “neutral” rating to an “overweight” rating in a research note to investors on Friday, August 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Deutsche Bank currently has an average rating of “Hold” and a consensus target price of $46.00.
Deutsche Bank AG is a global investment bank. The Company offers a range of investment, financial and related products and services to private individuals, corporate entities and institutional clients worldwide.
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