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Deutsche Bank shares hit record low as UBS downgrades stock to ‘sell’

May 20, 2019

Via: CNBC
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Shares of Deutsche Bank hit a record low Monday, down nearly 3%, after UBS downgraded the German lender’s stock to a “sell” rating from “neutral.”

Pointing to tough external events and the low interest rate environment, UBS slashed its price target for Deutsche from 7.80 euros ($7.45) to 5.70 euros.

“We downgrade to sell because we don’t expect operating conditions to improve anytime soon. Deutsche remains a levered market play vulnerable to external events and rising rates are currently a distant hope,” UBS analysts said in a research note on Monday.

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