Commerzbank : Reassuring start to the year
>Outperform rating maintained - Target price raised to € 17.7 (vs € 15.8) - The Q1 2024 release confirms the broadly favourable trends for Commerzbank both in operations (on an underlying basis, i.e. excluding the litigation in Poland) and for the balance sheet, and all told makes the prospect of a significant improvement in shareholder returns in the short and medium term look more credible. We reiterate our Outperform rating and raise our target price to € 17.7 (vs ...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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