Grenke rises after DB upgrades to 'buy'
06/04/2023 08:12
** Shares in Grenke GLJn.DE jump 6.5% after Deutsche Bank
raised its rating on the German leasing company
** DB ups Grenke to "buy" from "hold", citing continued
turnaround of its business
** Grenke aims to reach new leasing business volume of
2.6-2.8 billion euros in 2023, and a margin of around 17%, which
is at a similar level to 2019 new business, the brokerage says
** "This means that if the company is able to achieve its
full-year guidance, the gap should soon be closed," DB adds
(Reporting by Anastasiia Kozlova)
((Anastasiia.Kozlova@thomsonreuters.com))