ABN Amro downgraded to Sell from Neutral at Goldman Sachs

Goldman Sachs downgraded ABN Amro (AAVMY) to Sell from Neutral with a price target of EUR 14.40, down from EUR 17.90. The firm expects an upcoming negative earnings cycle going into 2025 for ABN, driven by lower interest rates and higher costs. The bank will see persistently lower profitability compared to peers over 2025 and 2026, the analyst tells investors in a research note.