Barclays maintains its 'underweight' recommendation on Commerzbank and lowers its price target from 10.8 to 10.5 euros, in the wake of reduced estimates mainly due to rate expectations.

We expect fourth-quarter trends to be in line with management forecasts", says the broker ahead of the German bank's next quarterly publication.

Barclays believes that messages about 2024 will be a more relevant driver for the share price reaction, but says it does not expect any positive surprises in this respect.

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.