FRANKFURT (dpa-AFX Broker) - Following a recommendation from Morgan Stanley, Deutsche Bank shares climbed to their highest level since 2018 at 14.766 euros on Wednesday morning. In the current year, the Frankfurt-based bank's shares are up almost 19 percent, roughly twice as much as the DAX.

However, analyst Giulia Aurora Miotto's price target of EUR 18 still signals immense potential even after the above-average performance compared to the sector. According to her optimistic outlook on the quarterly report, Miotto believes that the earnings momentum and cost progress have been underestimated by the market. In terms of pre-tax earnings, she is clearly above consensus until 2025.

In the chart, the path now seems clear to the interim highs from 2017 at around EUR 17./ag/mis

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