Commerzbank : Notable improvement in visibility on shareholder returns
>Neutral rating maintained – target price increased to € 14.0 (vs € 13.2) - We reiterate our Neutral rating but lift our target price to € 14.0 (vs € 13.2) in order to factor in the improvement in the shareholder returns policy. The update on shareholder returns confirms the improvement in the group’s fundamentals (operating momentum, balance sheet strength) thanks notably to the success of the transformation plan implemented since 2022. We estimate the add-...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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.