10:28 AM EDT, 04/29/2026 (MT Newswires) -- Deutsche Bank (DBK.F) was confirmed at buy with a price objective of 38 euros at BofA Global Research, following the German lender's "decent first-quarter"performance.

Noting the company's "attractive turnaround story"and standing as having one of the cheapest valuations in Europe, the research firm said Wednesday that Deutsche Bank's first-quarter net income was 9% higher than its expectations. Revenue in the period, meanwhile, was a 2% beat to consensus.

"CoR was the main miss (16% below consensus), but it was driven by a EUR90mn rise in overlays and a single case CRE provision. DBK reiterated 2026 guidance: (1) net revenues of c.EUR33bn, (2) CIR <65% with costs slightly above EUR21bn (to start rising sequentially), and (3) CoR below the 2025 level (of c.35bp) with strong underlying asset quality,"the note said.