Deutsche Bank Stuck In "vicious circle"; Faces "Insurmountable headwinds": Berenberg

As the Deutsche Bank price target gets reduced below consensus, an analyst says the road ahead could be a cul de sac with narrowing options. Too many debt problems exist and illiquid credit markets will narrow the bank’s choices, particularly as “core profitability is impaired.” If one thinks negative interest rates defy economic logic, the investment case in Deutsche Bank at this time might be a close second, is the general impression.

slashes Deutsche Bank price target 30% below consensus as “vicious circle” of being leveraged 40x limits options

It is normally analysts at Deutsche Bank who issue buy and sell recommendations. But last week it was a Dutch asset manager who expressed...