LONDON (dpa-AFX Broker) - The US bank Citigroup has raised its target price for Commerzbank shares from 14.70 to 15.80 euros, but downgraded the shares from "Buy" to "Neutral". Analyst Borja Ramirez Segura has become more skeptical about the earnings development of the Frankfurt-based bank, according to his study published on Monday. Although a high interest rate level for longer would be good for interest income, in the medium term it would probably also lead to larger capital outflows in Germany with its highly fragmented banking landscape. Ramirez Segura also plays through takeover scenarios. He comes to the conclusion that a purchase of Commerzbank would be earnings-neutral for both Deutsche Bank and Unicredit. In view of the high implementation risks, it would therefore be rather unattractive, according to the expert./ag/tih

Publication of the original study: 03.06.2024 / 00:00 / ET

First publication of the original study: 03.06.2024 / 00:00 / ET

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