(CercleFinance.com) – Barclays reaffirms its ‘underweight’ recommendation on Commerzbank with a price target raised from 10.7 to 12 euros, posting a revised net profit forecast in line with the consensus for 2024, but lower by 5% and 6% to those for 2025 and 2026.
Returning to a first quarter publication considered decent, the broker considers the group still oriented towards net interest income and thinks that ‘the franchise of commissions may not be able to compensate for the fall in interest rates’.
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