Commerzbank : Strategic update: somewhat positive but already well priced in
>Neutral rating maintained – target price unchanged at € 8.3 - We leave our approach to the stock unchanged following the investor day (strategic update) held yesterday. The trend in operating outlook remains encouraging, as does the improvement in prospects for shareholder returns, but we think that this potential linked to the strategic plan is starting to already be well priced into the current share price. Our target price remains unchanged at € 8.3 as we have mad...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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