Market Extra: Deutsche Bank stock is looking cheap after 40% slide, but analysts remain wary

Troubled Deutsche Bank’s roughly 9 euro-per-share price tag might seem like a bargain, but the company still has plenty to prove to its investors amid a tsunami of negative news.

That was the view of some analysts after a trifecta of headlines hit the company over the last 24 hours: first, there was a downgrade from S&P Global Ratings, then news of criminal cartel charges out of Australia on Friday; and that was after reports on Thursday that the Federal Reserve had reservations about the bank’s stability.

The weight of those headlines was bad enough that Chief Executive Officer Christian Sewing released a statement on Friday leaping to the bank’s defense, though acknowledging “the news flow isn’t good.

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