Commerzbank (ETR:CBK) has been assigned a €9.50 ($11.05) price target by research analysts at Independent Research in a research report issued to clients and investors on Wednesday, May 8th, Borsen Zeitung reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Independent Research’s price objective would indicate a potential upside of 50.75% from the stock’s current price.
Several other brokerages have also issued reports on CBK. Warburg Research set a €6.70 ($7.79) price target on Commerzbank and gave the company a “neutral” rating in a research note on Tuesday, April 30th. JPMorgan Chase & Co. set a €8.75 ($10.17) price target on Commerzbank and gave the company a “buy” rating in a research report on Thursday, April 18th. Goldman Sachs Group set a €10.20 ($11.86) price target on Commerzbank and gave the company a “neutral” rating in a research report on Monday, April 29th. HSBC set a €10.00 ($11.63) price target on Commerzbank and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Kepler Capital Markets set a €5.80 ($6.74) price objective on Commerzbank and gave the company a “sell” rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of €8.94 ($10.39).
ETR CBK traded down €0.12 ($0.14) during midday trading on Wednesday, hitting €6.30 ($7.33). The company had a trading volume of 7,551,133 shares, compared to its average volume of 8,870,000. The stock has a market capitalization of $7.89 billion and a PE ratio of 10.81. Commerzbank has a twelve month low of €5.50 ($6.40) and a twelve month high of €11.06 ($12.86).
Commerzbank Aktiengesellschaft provides banking and capital market services to private and small business customers, corporate clients, multinationals, financial service providers, and institutional clients worldwide. It operates through two segments, Private and Small-Business Customers and Corporate Clients segments.
Further Reading: Price to Earnings Ratio (PE)
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