Deutsche Bank Downgrades Man Group After Share Rally

By EC Assets · Published

Deutsche Bank has downgraded Man Group following a 34% year-to-date share rally. The investment firm made this adjustment after the significant market performance. Deutsche Bank has also added a beer brewer to its "short term sell catalyst" list. This resulted in the brewer's stock falling 2.3% in premarket action. The bank stated this call is based on specific analysis. Other financial institutions have also issued downgrades. Morgan and Bank of America both issued downgrades on Nike on the same day. This occurred as Nike faced financial pressure, with net income down 35% year over year and lower gross margins. Deutsche Bank has also been involved in other market movements. It upgraded Shake Shack, which saw its stock rise 7.5%. Deutsche Bank shares were up 8% following a U-turn to wind down operations in Russia. Russia's Sberbank and VTB bank stocks fell by 1.5% and 2.4% respectively due to information. Credit downgrades offer insight into how investors view credit risk. Fallen angels, which are corporate bonds initially issued as investment grade and later downgraded to high yield, illustrate this perspective. This article is intended for informational purposes only. It does not constitute investment advice.

Stay informed

Market commentary, firm news and research from EC Assets — direct to your inbox.