Deutsche Bank AG (DB) Gets a Hold Rating from DZ BANK AG

By Austin Angelo

According to The Fly, in a report released today, Christian Koch from DZ BANK AG maintained a Hold rating on Deutsche Bank AG (NYSE: DB). The company’s shares opened today at $10, equals to its 52-week low of $10.

Currently, the analyst consensus on Deutsche Bank AG is a Moderate Sell with an average price target of $9, implying a -10.0% downside from current levels. In a report issued on October 17, Credit Suisse also maintained a Hold rating on the stock.

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Based on Deutsche Bank AG’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $430 million. In comparison, last year the company had a net profit of $760 million.

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Deutsche Bank AG engages in the provision of corporate banking and investment services. It operates through the following segments: Corporate & Investment Bank (CIB); Private & Commercial Bank (PCB); and Deutsche Asset Management (Deutsche AM). The CIB segment refers to the corporate finance and global transaction banking businesses.