UBS maintains buy rating for Deutsche Bank with target price of 18.80 euros

Deutsche Bank has received a "Buy" rating from UBS, with a target price of €18.80. The bank's progress in various areas has been overshadowed by high provisions, according to analyst Mate Nemes.

The report emphasizes the ongoing challenges Deutsche Bank faces in managing default risks, which have had an impact on its financial outlook. Despite these challenges, UBS's endorsement reflects confidence in the bank's long-term potential amidst its current difficulties.

In the third quarter, Deutsche Bank's cost of risk ratio exceeded its annual target, leading to a revision of its forecast for this ratio in 2024.

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