TSX seen lower ahead of Canadian GDP, U.S. PCE data
Investing.com - Deutsche Bank (ETR:DBKGn) raised its price target on ABN Amro (AS:ABN) (OTC:ABNRY) to EUR22.00 from EUR20.00 on Thursday, while maintaining a Hold rating on the stock.
The bank cited several positive factors for ABN Amro, including trading below book value, a new CEO, excess capital, and an inflection in risk weights with potential improvements in net interest income soon.
Deutsche Bank expressed optimism about capital return prospects for the Dutch lender but remained cautious about quick improvements in efficiency and profitability, which currently lag behind the sector.
The research firm noted ABN Amro stock has already been a strong performer with a 50% year-to-date rerating, making it slightly expensive based on 2026 estimates at 9.2 times earnings, while modestly cheaper than the sector on 2027 estimates at 7.5 times.
Deutsche Bank indicated it remains constructive on ABN Amro’s upcoming second-quarter 2025 results but is not recommending aggressive buying ahead of the bank’s Capital Markets Day.
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