Cembra: 'Resilience at an attractive valuation' - DB
06/07/2020 08:19
** Deutsche Bank resumes Cembra Bank CMBN.S with "buy"
rating and price target of CHF 105, citing the Swiss lender's
resilience at an attractive valuation
** The broker points to much lower price-to-earnings ratio
valuation discount to European banks than usual and a 4%+
dividend yield "in a no yield world"
** According to the brokerage, the company is also in a much
better place to weather the COVID-19 crisis than peers
** DB warns, however, about cyclical headwinds the company
faces
((marta.frackowiak@thomsonreuters.com))