Goldman Downgrades Deutsche Bank to Neutral and Commerzbank to Sell
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 26 2025
0mins
Should l Buy DB?
Source: SeekingAlpha
Goldman Sachs Downgrade: Goldman Sachs downgraded Deutsche Bank to Neutral from Buy and Commerzbank to Sell from Neutral due to changes in valuation after their stocks outperformed this year.
European Banks Performance: The European banks sector has rallied nearly 50% year-to-date, significantly outperforming broader European equities, driven by better growth and a favorable rates backdrop.
Analyst Outlook: Analyst Chris Hallam remains positive on European banks, projecting an average upside of ~10% for Goldman's updated 12-month price targets and ~20% for several Buy-rated banks.
Contrasting Ratings: Goldman's Neutral rating on Deutsche Bank contrasts with other ratings, including Strong Buy from SA Quant and average Wall Street ratings, which reflect differing perspectives on the bank's performance.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy DB?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on DB
Wall Street analysts forecast DB stock price to rise
13 Analyst Rating
7 Buy
5 Hold
1 Sell
Moderate Buy
Current: 36.670
Low
36.55
Averages
43.20
High
47.63
Current: 36.670
Low
36.55
Averages
43.20
High
47.63
About DB
Deutsche Bank Aktiengesellschaft is a bank and holding company for its subsidiaries. The Company offers a range of services such as investment, financial and related products and services to private individuals, corporate entities, and institutional clients. It operates through four business divisions: Corporate Bank, Investment Bank, Private Bank and Asset Management. The Corporate Bank division serves corporate clients and financial institutions, offering cash management, trade finance, lending, foreign exchange, trust and agency services, correspondent banking, and securities services. The Investment Bank division includes Fixed Income & Currencies (FIC) Sales & Trading, Origination & Advisory, and Deutsche Bank Research. The Private Bank division focuses on personal and private clients, wealthy individuals, entrepreneurs and families. The Asset Management division operates under the brand DWS, and it serves a diverse client base of retail and institutional investors worldwide.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Rivian Automotive Shares Surge 28% on Positive Earnings Update
- Stock Surge: Rivian Automotive shares soared 28% following the earnings update, maintaining a 20.5% gain as of 10:30 a.m. ET, indicating strong investor confidence in the company's future prospects.
- 2026 Delivery Expectations: The company anticipates delivering between 62,000 and 67,000 EVs in 2026, representing a 50% increase from the 42,247 vehicles delivered in 2025, significantly enhancing its market competitiveness to meet rising demand.
- Anticipation for R2 Model: Rivian's upcoming R2 model is expected to start at around $45,000, becoming the company's flagship product, with management planning to begin customer deliveries in Q2 2026, projected to account for the
See More
2026 S&P 500 Outlook and Risk Analysis
- Economic Slowdown: The U.S. added only 181,000 jobs in 2025, a sharp decline from 1.2 million in 2024, indicating weak economic growth that may put additional downward pressure on the S&P 500.
- Optimistic Market Expectations: Despite the economic slowdown, Wall Street analysts predict a roughly 10% increase in the S&P 500 for 2026, primarily driven by economic growth supported by tax cuts and artificial intelligence spending.
- Significant Valuation Risks: The S&P 500 currently trades at a forward P/E ratio of 22, well above the 10-year average of 18.8, having only maintained such high valuations during the dot-com bubble and the pandemic, suggesting potential bear market risks ahead.
- Midterm Election Impact: Historical data shows that since 1950, the S&P 500 has averaged only a 4.6% return in midterm election years, with an average intra-year drawdown of 17%, increasing uncertainty for the market in 2026.
See More
Micron Stock Rises on Bullish Analyst Coverage
- Stock Surge: Micron Technology's share price increased by 9.7% during Wednesday's trading, reaching $37.48 as of 2:45 p.m. ET, reflecting market optimism amid flat trading for both the S&P 500 and Nasdaq Composite.
- Price Target Upgrade: Deutsche Bank reiterated a 'Buy' rating on Micron, raising its one-year price target from $300 to $500, citing improved margins driven by strong demand for AI memory chips, which implies an additional upside of approximately 22%.
- Strong Market Demand: The price target increase aligns with comments from Samsung Electronics' chip unit CTO, who stated at the Semicon trade show that high demand for memory chips is expected to continue through 2026, benefiting both Micron and the broader industry by boosting sales and earnings.
- Competitive Landscape: Despite being competitors, Micron and Samsung are both poised to benefit from the skyrocketing demand for memory chips used in AI processors and data center applications, further solidifying Micron's position in the market.
See More
Commonwealth Bank of Australia Issues GBP 250 Million Floating Rate Notes
- Issuance Size: Commonwealth Bank of Australia successfully issued GBP 250 million in floating rate notes, demonstrating its strong financing capability in capital markets, which is expected to enhance its liquidity management.
- Interest Rate Details: The notes carry an interest rate of 4.20924%, offering investors a relatively attractive return, reflecting the rising demand for floating rate products in the current market.
- Interest Payment: During the interest period from December 11, 2025, to February 12, 2026, the total interest amount is projected to reach GBP 2,652,397.81, further bolstering the bank's earning capacity.
- Maturity Arrangement: The notes are set to mature in August 2026, providing flexible financing options that help the bank maintain competitiveness in future funding needs.
See More
Deutsche Bank Appointed as Successor Depositary Bank for Swisscom AG
- New Depositary Appointment: Deutsche Bank has been appointed as the successor depositary bank for Swisscom AG's American Depositary Receipt program, marking a significant expansion in Deutsche Bank's management of cross-border equity structures and expected to enhance its influence in global markets.
- Company Overview: Swisscom AG is a leading information and communications technology company, 51% owned by the Swiss Confederation, employing nearly 20,000 people, and providing mobile, internet, and TV services, highlighting its critical position and market share in the industry.
- Service Range: Deutsche Bank specializes not only in managing American and Global Depositary Receipts but also offers trustee, agency, and related services to corporations, financial institutions, and hedge funds worldwide, further solidifying its diversified capabilities in the financial services sector.
- Market Impact: This appointment is expected to enhance Deutsche Bank's depositary receipt business in the U.S. market, likely attracting more international investors to Swisscom AG, thereby potentially driving its stock price and market performance upward.
See More
SPDR Gold ETF Surges 25% Year-to-Date, Outperforming Major Stocks
- Gold ETF Performance: The SPDR Gold ETF has surged 25% year-to-date, outperforming Palantir Technologies (down 12%) and Nvidia (up 3%), and has exceeded these AI stocks by at least 50 percentage points over the last six months, highlighting gold's strong appeal as a safe-haven asset.
- Hedge Fund Accumulation: Billionaire hedge fund managers Israel Englander and Ken Griffin increased their holdings in the SPDR Gold ETF by 104,900 shares and 255,100 shares respectively in Q3 2025, with Griffin also purchasing call options, indicating their confidence in the gold market and strategic portfolio adjustments.
- Gold Price Dynamics: Gold's low correlation with stocks and bonds makes it an ideal choice for investors during periods of global tension and economic uncertainty, as historical data shows that gold can provide effective hedging during significant market drawdowns.
- Future Price Expectations: Several financial institutions project gold prices to reach between $5,300 and $6,000 per ounce by 2026, and despite mixed opinions on the geopolitical and economic turmoil caused by Trump's policies, the overall trend remains bullish, suggesting investors should consider increasing their exposure to gold ETFs to mitigate potential risks.
See More
Rivian Automotive Shares Surge 28% on Positive Earnings Update
- Stock Surge: Rivian Automotive shares soared 28% following the earnings update, maintaining a 20.5% gain as of 10:30 a.m. ET, indicating strong investor confidence in the company's future prospects.
- 2026 Delivery Expectations: The company anticipates delivering between 62,000 and 67,000 EVs in 2026, representing a 50% increase from the 42,247 vehicles delivered in 2025, significantly enhancing its market competitiveness to meet rising demand.
- Anticipation for R2 Model: Rivian's upcoming R2 model is expected to start at around $45,000, becoming the company's flagship product, with management planning to begin customer deliveries in Q2 2026, projected to account for the
See More
2026 S&P 500 Outlook and Risk Analysis
- Economic Slowdown: The U.S. added only 181,000 jobs in 2025, a sharp decline from 1.2 million in 2024, indicating weak economic growth that may put additional downward pressure on the S&P 500.
- Optimistic Market Expectations: Despite the economic slowdown, Wall Street analysts predict a roughly 10% increase in the S&P 500 for 2026, primarily driven by economic growth supported by tax cuts and artificial intelligence spending.
- Significant Valuation Risks: The S&P 500 currently trades at a forward P/E ratio of 22, well above the 10-year average of 18.8, having only maintained such high valuations during the dot-com bubble and the pandemic, suggesting potential bear market risks ahead.
- Midterm Election Impact: Historical data shows that since 1950, the S&P 500 has averaged only a 4.6% return in midterm election years, with an average intra-year drawdown of 17%, increasing uncertainty for the market in 2026.
See More
Micron Stock Rises on Bullish Analyst Coverage
- Stock Surge: Micron Technology's share price increased by 9.7% during Wednesday's trading, reaching $37.48 as of 2:45 p.m. ET, reflecting market optimism amid flat trading for both the S&P 500 and Nasdaq Composite.
- Price Target Upgrade: Deutsche Bank reiterated a 'Buy' rating on Micron, raising its one-year price target from $300 to $500, citing improved margins driven by strong demand for AI memory chips, which implies an additional upside of approximately 22%.
- Strong Market Demand: The price target increase aligns with comments from Samsung Electronics' chip unit CTO, who stated at the Semicon trade show that high demand for memory chips is expected to continue through 2026, benefiting both Micron and the broader industry by boosting sales and earnings.
- Competitive Landscape: Despite being competitors, Micron and Samsung are both poised to benefit from the skyrocketing demand for memory chips used in AI processors and data center applications, further solidifying Micron's position in the market.
See More
Commonwealth Bank of Australia Issues GBP 250 Million Floating Rate Notes
- Issuance Size: Commonwealth Bank of Australia successfully issued GBP 250 million in floating rate notes, demonstrating its strong financing capability in capital markets, which is expected to enhance its liquidity management.
- Interest Rate Details: The notes carry an interest rate of 4.20924%, offering investors a relatively attractive return, reflecting the rising demand for floating rate products in the current market.
- Interest Payment: During the interest period from December 11, 2025, to February 12, 2026, the total interest amount is projected to reach GBP 2,652,397.81, further bolstering the bank's earning capacity.
- Maturity Arrangement: The notes are set to mature in August 2026, providing flexible financing options that help the bank maintain competitiveness in future funding needs.
See More
Deutsche Bank Appointed as Successor Depositary Bank for Swisscom AG
- New Depositary Appointment: Deutsche Bank has been appointed as the successor depositary bank for Swisscom AG's American Depositary Receipt program, marking a significant expansion in Deutsche Bank's management of cross-border equity structures and expected to enhance its influence in global markets.
- Company Overview: Swisscom AG is a leading information and communications technology company, 51% owned by the Swiss Confederation, employing nearly 20,000 people, and providing mobile, internet, and TV services, highlighting its critical position and market share in the industry.
- Service Range: Deutsche Bank specializes not only in managing American and Global Depositary Receipts but also offers trustee, agency, and related services to corporations, financial institutions, and hedge funds worldwide, further solidifying its diversified capabilities in the financial services sector.
- Market Impact: This appointment is expected to enhance Deutsche Bank's depositary receipt business in the U.S. market, likely attracting more international investors to Swisscom AG, thereby potentially driving its stock price and market performance upward.
See More
SPDR Gold ETF Surges 25% Year-to-Date, Outperforming Major Stocks
- Gold ETF Performance: The SPDR Gold ETF has surged 25% year-to-date, outperforming Palantir Technologies (down 12%) and Nvidia (up 3%), and has exceeded these AI stocks by at least 50 percentage points over the last six months, highlighting gold's strong appeal as a safe-haven asset.
- Hedge Fund Accumulation: Billionaire hedge fund managers Israel Englander and Ken Griffin increased their holdings in the SPDR Gold ETF by 104,900 shares and 255,100 shares respectively in Q3 2025, with Griffin also purchasing call options, indicating their confidence in the gold market and strategic portfolio adjustments.
- Gold Price Dynamics: Gold's low correlation with stocks and bonds makes it an ideal choice for investors during periods of global tension and economic uncertainty, as historical data shows that gold can provide effective hedging during significant market drawdowns.
- Future Price Expectations: Several financial institutions project gold prices to reach between $5,300 and $6,000 per ounce by 2026, and despite mixed opinions on the geopolitical and economic turmoil caused by Trump's policies, the overall trend remains bullish, suggesting investors should consider increasing their exposure to gold ETFs to mitigate potential risks.
See More
