Commerzbank AG (OTCMKTS:CRZBY) Receives Consensus “Buy” Rating From Brokerages

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Shares of Commerzbank AG (OTCMKTS:CRZBY – Get Rating) have received a consensus recommendation of “Hold” by the ten rating companies that currently cover the stock, MarketBeat reports. Five investment analysts gave the stock a hold rating and four gave the company a buy rating. The 12-month average price target among analysts who have rated the stock over the past year is $9.82.

CRZBY has been the subject of several research analyst reports. Royal Bank of Canada raised its target price on Commerzbank from CA$8.20 to CA$8.50 and gave the company an “industry performance” rating in a Sunday, May 15 research report. Deutsche Bank Aktiengesellschaft raised its price target on Commerzbank from €10.00 ($10.75) to €11.00 ($11.83) in a Monday, May 23 research report. Morgan Stanley raised its price target on Commerzbank from €9.10 ($9.78) to €11.70 ($12.58) and gave the stock an “overweight” rating in a Tuesday, February 15 report. JPMorgan Chase & Co. raised its price target on Commerzbank from €7.80 ($8.39) to €8.20 ($8.82) and gave the stock a “neutral” rating in a report from the Thursday, May 19. Finally, Zacks Investment Research downgraded Commerzbank from a “buy” rating to a “hold” rating in a Wednesday, June 1 report.

Shares of CRZBY opened at $8.99 on Tuesday. The stock has a 50-day moving average of $7.37 and a 200-day moving average of $7.87. Commerzbank has a 1-year low of $5.85 and a 1-year high of $10.55.

A hedge fund recently bought a new stake in Commerzbank shares. Yousif Capital Management LLC acquired a new stake in the shares of Commerzbank AG (OTCMKTS:CRZBY – Get Rating) in the 4th quarter, according to the company in its latest Form 13F filed with the Securities and Exchange Commission (SEC). The company acquired 19,400 shares of the financial services provider, valued at around $147,000.

About Commerzbank (Get an evaluation)

Commerzbank AG provides banking and capital markets services to private and small business clients, multinational groups, financial service providers and institutional clients worldwide. It operates through two segments, Private and Small Business Customers, and Enterprise Customers. The Company offers accounts, trade payments, payment activation, clearing and custody, and other services; trade services, including documentary collection, letters of credit, guarantees, trade facilitation, supply chain finance, buyer credit and package services; and bilateral loans, club agreements, Schuldschein instruments, syndicated loans, bonds, private placements, other debt instruments and Islamic financing services.

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Analyst Recommendations for Commerzbank (OTCMKTS: CRZBY)

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