US Stock Movement | Deutsche Bank drops over 4% pre-market as Bank of America expects a "weaker" Q2 performance and lowers target price

格隆汇 July 8｜Deutsche Bank (DB.US) dropped more than 4% in pre-market US trading, quoted at $35.119. According to news, Bank of America Securities stated in its latest research report that Deutsche Bank's second-quarter performance is expected to be "weaker," and slightly lowered the stock’s price target from $44 to $43, while maintaining a "Buy" rating. Bank of America expects that, although Deutsche Bank's second-quarter revenue is likely to increase by 4% year-on-year, net profit will decline by 2% year-on-year, with the main drag coming from costs — costs are rising by 7% year-on-year, mainly reflecting increased expenditures for strategic investments, private banking restructuring fees, and ongoing recruitment.