Deutsche PfandbriefBank AG : A risk of lasting pressure on the stock
>Underperform rating reiterated – target price lowered to € 5.2 (vs € 7.5) - We reiterate our cautious approach (Underperform) on PBB after the Q4/FY 2023 earnings release. The trend in the group’s operating performances leads us to remain cautious on the group’s outlook (modest top-line trend, a still-significant level expected for cost of risk related to exposure to US commercial real estate). Despite the message from management aiming to be broadly confident/reassu...Deutsche Pfandbriefbank is the parent company of Deutsche Pfandbriefbank Group. Through its subsidiaries, Co. is engaged as a bank for real estate finance and public investment finance. Co. structures medium to large financing transactions for real estate investors in office, retail, residential and logistics properties. Co. finances public sector investment in infrastructure projects such as public housing, utilities and waste disposal, health care and nursing care properties, as well as child care and educational facilities. Co. also provides government-backed export finance. Co. operates in Germany, the U.K., France, the Nordic countries as well as Central and Eastern European countries.
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.