Shares of Deutsche Bank hit a record low Monday, down nearly 3%, after UBS downgraded the German lender's stock to a 'sell' rating from 'neutral.'
Pointing to tough external events and low rate environment, UBS slashed its price target for Deutsche from 7.80 euros to 5.70 euros.
Pointing to tough external events and the low interest rate environment, UBS slashed its price target for Deutsche from 7.80 euros to 5.70 euros. Rising rates are good for banks since they are able to lend out money with a profitable rate of interest. Lower interest rates can restrict a bank's ability to make profits, adding pressure on margins.
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