Zacks Reiterates Neutral Rating for Deutsche Bank (DB)
Deutsche Bank (NYSE:DB)‘s stock had its “neutral” rating reissued by Zacks in a research report issued to clients and investors on Monday. They currently have a $35.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 6.29% from the stock’s previous close.
Zacks’ analyst wrote, “Deutsche Bank reported lower second-quarter 2014 net earnings as compared with the prior-year period. Results were adversely affected by a deteriorating top line. However, decreased expenses, lower provision for credit losses and a strong capital position were the positives. Amid the worldwide economic volatility, 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. However, given the stressed operating environment, we do not expect any significant improvement in earnings in the coming quarters. Further, increased litigation costs are impacting the bank’s profitability Deutsche Bank might have to combat tough times ahead. “
Several other analysts have also recently commented on the stock. Analysts at Berenberg Bank upgraded shares of Deutsche Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, July 30th. Separately, analysts at S&P Equity Research upgraded shares of Deutsche Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, July 29th. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Deutsche Bank from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 9th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $32.50.
Deutsche Bank (NYSE:DB) traded up 0.24% during mid-day trading on Monday, hitting $33.01. The stock had a trading volume of 921,165 shares. Deutsche Bank has a 1-year low of $32.52 and a 1-year high of $51.9943. The stock has a 50-day moving average of $34.75 and a 200-day moving average of $40.23. The company’s market cap is $45.521 billion.
Deutsche Bank (NYSE:DB) last released its earnings data on Tuesday, July 29th. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.50 by $0.18. Analysts expect that Deutsche Bank will post $2.22 EPS for the current fiscal year.
Deutsche Bank AG is a global investment bank. The Company offers a variety of investment, financial and related products and services to private individuals, corporate entities and institutional clients around the world.
To view Zacks’ full report, visit Zacks’ official website.
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