Deutsche Bank shares plunge after spike in credit default swaps
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JPMorgan Defending Deutsche (DBK:GR) (DB): 'we don’t see this and the associated share price decline as a reflection of the fundamentals of the bank'
March 24, 2023 10:24 AM EDTJPMorgan analyst Kian Abouhossein reiterated an Overweight rating and {REMOVEPT} price target on Deutsche Bank (DBK:GR) (NYSE: DB).
The analyst comments "We are not concerned today about counterparty, liquidity issues with DBK being Top 5 FICC player globally with $9.5bn in 2022 FICC revenues. DBK s recent CDS widening is in our view related to one way trades of de-risking across all market participants and we dont see this and the associated share price... More
