Commerzbank AG (CRZBY) was Upgraded to a Buy Rating at Kepler Capital
Commerzbank AG (CRZBY) received a Buy rating and a EUR6.90 price target from Kepler Capital analyst Anna Maria Benassi on May 3. The company’s shares closed last Tuesday at $6.78, close to its 52-week high of $7.17.
According to TipRanks.com, Benassi is a 5-star analyst with an average return of 23.2% and a 83.5% success rate. Benassi covers the Financial sector, focusing on stocks such as SpareBank 1 Nord-Norge, Erste Group Bank AG, and Deutsche Bank AG.
Commerzbank AG has an analyst consensus of Hold, with a price target consensus of $7.15.
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Based on Commerzbank AG’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $1.72 billion and GAAP net loss of $2.71 billion. In comparison, last year the company earned revenue of $2.19 billion and had a GAAP net loss of $96 million.
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Commerzbank operates primarily in Europe. Germany, the group’s home country, contributes about 70% to total income. The bank operates two business segments: private and small-business customers as well as corporate clients. In its private and small-business segment, the group runs its branch business, a mobile bank with a focus on the Polish market, an online broker, and an asset manager for physical assets. Its corporate client business provides cash management and trade finance solutions to small and medium-size enterprises and large corporates.