GERMAN FINANCIAL CHAOS: Deutsche downgrades Commerzbank as bosses cut nearly 10,000 jobs

GERMAN FINANCIAL CHAOS: Deutsche downgrades Commerzbank as bosses cut nearly 10,000 jobs
 

Commerzbank’s securities fell by as much as 0.7 percent to 5.77 euros today as analysts at Deutsche Bank classified the title from "Buy" back to "Hold", and reduced the price target from 9 to 6 euros.
Deutsche Bank analysts said Commerzbank’s new strategic program for 2020 should boost sales but will take longer than expected to achieve significant improvements. 
Analysts wrote: "Although we expect a little revenue growth, we are much more cautious than management facing the low interest rate environment.”
It comes days after Commerzbank, the second-biggest bank in... read more

 
5 October 2016 in World News, Views: 41
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