RBC upgrades Commerzbank as takeover battle with UniCredit intensifies
The Facts
- RBC Capital upgraded Commerzbank to Outperform from Sector Perform and raised its price target to EUR43 from EUR37.
- UniCredit said Commerzbank is insufficiently prepared for future challenges and too focused on short-term results.
- UniCredit presented a plan for changes at Commerzbank that it says would improve the German bank’s earnings.
- Commerzbank said it rejected UniCredit’s approach and described it as hostile.
- Germany’s Verdi union renewed its call for Commerzbank to remain independent after UniCredit’s latest push.
- UniCredit has built a stake in Commerzbank of close to 30% and is its largest shareholder/investor.
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Context
Why did RBC upgrade Commerzbank?
RBC said it expects Commerzbank to improve its medium-term profitability targets, including a 2028 return on tangible equity above 16% and a 2030 target above 18%, potentially by the time of first-quarter results on May 8 Investing.com.
What is UniCredit arguing about Commerzbank?
UniCredit says Commerzbank’s current strategy leaves it underprepared for future banking-sector challenges and that a different transformation plan could accelerate growth and raise profits Reuters,tagesschau.de.
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Wire services (10)
Independent coverage (50)
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GazzettinoUnicredit all'attacco su Commerz, Berlino fa muro: resti ind...
manager magazinCommerzbank gegen Unicredit: Bettina Orlopp wirft Andrea Orc...
Bloomberg BusinessUniCredit CEO to Pause Commerzbank Pursuit If No Control Rea...
RTE.ieUniCredit draws German ire with advice for Commerzbank
QuiFinanzaCommerzbank rigetta valutazioni di Unicredit. Orcel vede uti...
Investing.com ItaliaL'offerta di UniCredit per Commerzbank è solo una mossa tatt...
stern.deCommerzbank wirft Unicredit "feindliche Taktik" und "irrefüh...
The Business TimesThe gloves are coming off in Europe's biggest banking takeov...
Il MessaggeroBerlino blocca di nuovo Unicredit: Commerzbank deve restare ...
Bloomberg BusinessThe Gloves Are Coming Off in Europe's Biggest Banking Takeov...
LA NOTIZIAUnicredit rilancia l'integrazione con Commerzbank: "Utile ne...
QuotidianoNetUnicredit all'attacco su Commerz, L'Ad Orcel: "Con la fusion...
Kronen ZeitungÜbernahmekrimi der Commerzbank geht weiter
CashUnicredit kritisiert Commerzbank - Reaktion: 'Nicht glaubwür...
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Investing.comRBC Capital upgrades Commerzbank stock rating on earnings ou...
Investing.comIs UniCredit's Commerzbank bid merely a tactical move? Analy...
wallstreet:onlineUnicredit kritisiert Commerzbank - Reaktion: 'Nicht glaubwür...
Börse OnlineCommerzbank lehnt Unicredit-Ideen ab: Kein glaubwürdiger Pla...
MorningstarCommerzbank Dismisses Suitor UniCredit's Revamp Plans
Bourse DirectCommerzbank rejette la dernière offre d'UniCredit
Le Figaro.frCommerzbank dit rejeter "les manœuvres hostiles persistantes...
TeleborsaCommerzbank respinge i piani di UniCredit: approccio ostile ...
finanzen.chCommerzbank wehrt sich gegen "feindliche Taktik" von Unicred...
wallstreet:onlineKein glaubwürdiger Plan zur Wertsteigerung
CashCommerzbank lehnt Unicredit-Ideen ab: Kein glaubwürdiger Pla...
onvista.deEQS-News: Commerzbank weist feindliches Vorgehen der UniCred...
Investing.com FranceCommerzbank rejette l'offre de rachat d'UniCredit, évoque l'...
wallstreet:onlineCommerzbank Rejects UniCredit Attack, Reinforces Momentum St...
wallstreet:onlineCommerzbank Rejects UniCredit's Hostile Approach; Reaffirms ...
finanzen.chCommerzbank Rejects UniCredit's Hostile Approach; Reaffirms ...
N-tv"Nicht ausreichend vorbereitet": UniCredit unkt über Zukunft...
lastampa.itOrcel punta alla fusione con Commerzbank: "Nel 2030, 21 mili...
Frankfurter AllgemeineUnicredit kritisiert Commerzbank-Vorstand
N-tvDer Börsen-Tag: Commerzbank-Aktie stark - Unicredit macht Dr...
CashUniCredit spricht Commerzbank Zukunftsfähigkeit ab und forde...
tagesschau.deUniCredit kritisiert Geschäftsmodell der Commerzbank
Süddeutsche ZeitungCommerzbank-Übernahme durch Unicredit: Jetzt wird's feindlic...
bankingnews.grUniCredit goes on the offensive for Commerzbank: Shock takeo...
der StandardGewinnsteigerung und Umbau - Unicredit stellt Pläne für Comm...
Rai newsLo stretto di Hormuz resta chiuso, scendono le compagnie aer...
MorningstarUniCredit's CEO Steps Up Push for Revamp at Commerzbank -- ...
Neue Zürcher Zeitung"Verletzbar und schlecht vorbereitet": Unicredit-Chef kritis...
ANSA.itUniCredit sees profit of 21 billion in 2030 with Commerzbank...
Salzburger NachrichtenItalienische Großbank erhöht im Übernahmepoker um die Commer...
HuffPost ItaliaScalata Commerz, per chiudere l'affare i tedeschi vogliono U...
stern.deUnicredit-Chef kritisiert Strategieplan der Commerzbank
Börse OnlineROUNDUP/Unicredit legt nach: scharfe Kritik an Commerzbank-M...
Il Sole 24 ORELe promesse di UniCredit sostengono il titolo Commerzbank
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