Citi upgraded Deutsche Bank (DB) to Neutral from Sell with a price target of EUR 29, down from EUR 30.30. The firm says it is “time to re-engage” with the European banks. The group is one of the few still seeing earnings upgrades, the analyst tells investors in a research note. Citi adds that potential rate hikes in Europe will be supportive of earnings. The firm cites valuation for the upgrade of Deutsche Bank following the stock’s decline year-to-date.
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