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Deutsche Bank: Against the trend

Deutsche Bank’s numbers for the third quarter are above market expectations. The total income increases from 5.26 billion euros to 5.94 billion euros. The analysts at Pareto Securities had expected 5.7 billion euros.

Before taxes, the bank had a profit of 482 million euros (previous year: -687 million euros). The consensus stood at 178 million euros. Deutsche Bank made a net profit of 309 million euros. The core capital ratio remains at 13.3 percent.

The experts confirm the hold recommendation for the shares of Deutsche Bank. The price target remains unchanged at EUR 8.00.

Other analysts also stick to their previous line. As before, Barclays gave it the “underweight” rating. The price target is EUR 5.00. RBC assigns the rating “underperform” with a target price of EUR 7.50.

Against the trend, the shares of Deutsche Bank gain 1.6 percent at noon to 8.039 euros. The DAX is under pressure due to the pandemic and is losing 2.8 percent.

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