DB picks Avanza in Nordic banking platform initiation; cuts Commerzbank
BUZZ-DB picks Avanza in Nordic banking platform initiation; cuts Commerzbank Sept 30 (Reuters) - ** Deutsche Bank initiates Swedish digital banking platforms Avanza AVANZ.ST at "buy" and Nordnet SAVE.ST at "hold", eyeing growth in the Nordic savings market
** Avanza is DB's preferred pick, with the brokerage's 2026-2028 net profit estimates exceeding consensus by about 9% and its target price 16% above the stock price
** DB cuts Commerzbank CBKG.DE to "hold" from "buy", saying many of the key catalysts, including rising NII, large capital return and improving sentiment in Germany are largely priced in
** Separately, J.P. Morgan resumes coverage of selected European savings platforms and says it favours Nordic players and Nordnet in particular
(Reporting by Elviira Luoma)
((elviira.luoma@thomsonreuters.com; +48 58 769 66 46;))
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