Commerzbank AG (CRZBY) was Upgraded to a Buy Rating at Kepler Capital

By Ryan Adsit

Commerzbank AG (CRZBYResearch Report) received a Buy rating and a EUR7.00 price target from Kepler Capital analyst Christoffer Adams on September 25. The company’s shares closed last Friday at $4.67.

According to TipRanks.com, Adams is currently ranked with 0 stars on a 0-5 stars ranking scale, with an average return of -5.8% and a 41.3% success rate. Adams covers the Financial sector, focusing on stocks such as SpareBank 1 Nord-Norge, Banca Mediolanum SpA, and Erste Group Bank AG.

Currently, the analyst consensus on Commerzbank AG is a Moderate Buy with an average price target of $8.14.

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Based on Commerzbank AG’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $2.38 billion and net profit of $220 million. In comparison, last year the company earned revenue of $2.13 billion and had a net profit of $279 million.

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Commerzbank operates primarily in Europe. Germany, the group’s home country, contributes about 70% to total income. The bank operates two business segments: private and small-business customers as well as corporate clients. In its private and small-business segment, the group runs its branch business, a mobile bank with a focus on the Polish market, an online broker, and an asset manager for physical assets. Its corporate client business provides cash management and trade finance solutions to small and medium-size enterprises and large corporates.