Analysts at Bank of America downgraded their rating on Deutsche Bank DBK, -3.09% DB, -3.04% to underperform from neutral, though its price target was lifted to €11.45 from €10.50. Analysts led by Rohith Chandra-Rajan said Deutsche Bank will struggle to improve profitability as growth is heavily volume reliant, consuming cost and capital resources. The bank sees stronger momentum, better profitability and more attractive capital distributions from other European banks. Deutsche Bank shares fell 3% to €11.30 and have dropped 22% over the last 52 weeks.
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