FRANKFURT (dpa-AFX) - Commerzbank shares, which had been strong recently, took a step backward on Thursday. The Bank of America (BofA) withdrew its buy recommendation, prompting profit-taking. Commerzbank shares lost 2.5 percent in early trading and approached their previous day's low at 29.32 euros. At 30.74 euros, they had temporarily reached another high since 2011 on Wednesday.
Analyst Tarik El Mejjad of Bank of America set a price target of €31.70 and sees little room for further upside. He consequently lowered his rating to "neutral." According to the expert, most of the positive aspects have already been priced in. His favorite in Germany is now Deutsche Bank, even though he believes Commerzbank's quarterly report will lead to an increase in its annual target for net interest income.
Deutsche Bank shares remained fairly stable on Thursday after recently returning to 2015 levels. They are up 55 percent in 2025, while Commerzbank is up 87 percent./ag/jha/
