Deutsche Bank stock joins Goldman Sachs conviction list
Published on 11/11/2026 at 18:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSGoldman's Profitability Case
- Goldman Sachs added Deutsche Bank to its November European Conviction List.
- The analyst thesis highlights stronger momentum in corporate and private banking.
- Efficiency measures could support higher returns and future buybacks.
Goldman Sachs added Deutsche Bank to its November European "Conviction List - Directors' Cut" on November 3, according to CNBC. The monthly selection covers preferred buy-rated European companies and places the German lender among Goldman's favored names.
What Goldman Sees Ahead
Goldman analyst Chris Hallam described Deutsche Bank as entering a new era of profitability, with the corporate and private banking divisions at the center of the thesis. Stronger revenue momentum and potential opportunities linked to German infrastructure spending, particularly in defense and technology, are key parts of the view.
The investment bank also sees support from Deutsche Bank's fixed-income business. Cost measures across technology, real estate and operations, including wider use of cloud computing and artificial intelligence, could improve efficiency and create more room for shareholder distributions.
What Has Changed Since Our Last Report
Deutsche Bank stock traded at 33.68 euros on Lang & Schwarz at 18:17 CET on Wednesday, November 11, 2026. The quote was 32.11 euros in the latest relevant report dated November 5, 2026, putting the new quote 4.89% higher.
Goldman expects the efficiency program to support a return on tangible equity above 13% from 2028, compared with analysts' expectations of 12.2%. It also sees scope for higher share buybacks over the next two years. These are analyst forecasts, not company guidance, so execution in the operating divisions remains decisive.
Deutsche Bank
- Company: Deutsche Bank
- ISIN: DE0005140008
- Lang & Schwarz quote: 33.68 euros on Wednesday, November 11, 2026, at 18:17 CET
The broader German equity market is covered in the DAX market overview.
For investors, the central test is whether stronger revenue momentum and the planned efficiency measures translate into durable profitability and higher capital returns. Further developments are available in More news and analyses on Deutsche Bank stock.
