Commerzbank : H1 2024 confirms the essentials ... the prospect of an increase in shareholder returns!
>Outperform rating reiterated – Target price lowered to € 17.3 (vs € 17.7) - H1 2024 was broadly reassuring on the underlying operational performance (i.e. notably excluding forex litigation in Poland) at CBK and on the credibility of the prospect of significant shareholder returns as of this year. We reiterate our Outperform rating whilst at the same time lowering our target price to € 17.3 (vs € 17.7) after the downward adjustment to our forecasts for net profit (-2...Commerzbank operates through five segments: Private Customers, which comprises the Private Customers, Direct Banking and Commerz Real divisions; Mittelstandsbank, which include the Mittelstand Germany, Corporate Banking & International and Financial Institutions divisions; Central and Eastern Europe, which consists of the universal and regional banking and direct banking activities; Corporates and Markets, which consists the Equity Markets & Commodities, Fixed Income & Currencies, Corporate Finance and Credit Portfolio Management divisions; as well as Non-Core Assets, which includes the operations of CRE Banking Germany, CRE Banking International, Public Finance and Deutsche Schiffsbank.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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