JPMorgan raised its Deutsche Bank price target to €41 from €40.
The firm maintains an Overweight rating on the stock.
Analyst Kian Abouhossein cited strengthened confidence in the private client division’s momentum.
This outlook follows discussions with Claudio de Sanctis, head of the private client business.
Morgan Stanley also recently increased its price target for the German lender.
Deutsche Bank previously reiterated its 2026 earnings guidance to support the stock.
Abouhossein expects broader market expectations for the private client unit to rise.