Deutsche Bank: Credit (Quality) Where It's Due, But Not At Any Price

Deutsche Bank has been downgraded by analysts at Credit Suisse, who argue that the bank's credit quality is not sufficient to justify its current valuation.

The analysts have cut their price target on the stock to €10.50 from €12.50, and maintained a 'neutral' rating.

Deutsche Bank has been struggling to turn around its performance in recent years, and has faced a series of legal and regulatory challenges.

The analysts note that the bank's credit quality has improved, but remains below that of its peers.