02:50 AM EDT, 04/25/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We raise our 12-month target price for Deutsche Bank ( DB ) to USD18 (from USD14), reflecting a P/B of 0.41x, above its 5-year average P/B of 0.29x, justified in our view by DBK's improving ROE profile. We keep our EPS forecasts. DBK's Q1 2024 pre-tax profit rose 10% Y/Y to EUR2.04 bln, in line with company-compiled consensus estimate, with a marginal 1% increase in revenue, as strong growth in commissions and fee income (+11%) more than offset lower net interest income in an environment of normalizing interest rates. Lower operating expenses (-3%) also helped, which resulted in an improved cost/income ratio of 68% vs. 71%. We believe the result was generally good, with the performance of non-interest income reflecting DBK's progress in growing its capital light business areas, and progress of cost-saving and efficiency plans. That said, with its rich valuation vs. historical, we forecast a correction in its share price if future earnings disappoint. Maintain Hold.