Deutsche Bank Is Fading Away, Not Turning Corner, Berenberg Says
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Deutsche Bank AG is not turning a corner and its battered shares have even further to fall, according to Berenberg Bank analyst Eoin Mullany.
Germany’s largest bank is “slowly fading away,” and its key business is in structural decline, Mullany said in a note to clients Thursday. It’s unlikely to ever hit management’s medium-term target of a 10 percent return on equity. He cut his 12-month price target for the stock to 8 euros from 12 euros.