News Headline Summary

Societe Generale removes Deutsche bank (DBK GY) from preferred bank stock list, cuts target price to EUR 41.70 from EUR 43.60

Update details:

- SocGen write that the slew of negative newsflow for the company over the past two weeks have driven SocGen to conclude that key catalysts for the firm are unlikely to propel them forward in the near-term, culminating in SocGen removing DBK GY from their preferred stock list. Despite this, SocGen see Deutsche’s underlying fundamentals will allow the bank to meet Basel III requirements in Q2 2014 within any need to recapitalise.

Reaction details:

- Co. shares unmoved in immediate reaction to the news, currently trades at EUR 32.86.

Print 08:37, 17 Dec 2012 - DAX - Source: Newswires