MOL Global, Deutsche Bank's Buy recommendation

One reader has drawn my attention to a Buy recommendation on MOL Global from Deutsche Bank (dated 20 November 2014) with a 12 month price target of USD 12.

MOL's share price currently hovers around USD 0.24, 98% below the target price, in other words the price has to multiply by a factor 50 to reach the target. With the company being soon delisted, that looks rather unlikely.

It should be noted that Deutsche Bank was conflicted, but at least the company did announce that in the appendix:

Another example why readers should not take broker's research too serious. Although there might be interesting information in their reports, I personally never follow their specific buy/hold/sell recommendations.

No swearing please, we are Deutsche Bank ....

 

 

Colin Fan, the co-head of the German lender's investment bank, said in a video to all his staff: "It's not OK to brag or to be vulgar or indiscreet. That will have severe consequences on your career. I've run out patience on this." He said "reputation is everything" and some staff were "still a long way from meeting" the bank's standards. Deutsche Bank is undergoing a shake-up following a series of scandals that has tarnished its reputation. Last year the German bank €725m in penalties for its involvement in the Libor rigging scandal, a key rate used to fix the cost of borrowing on mortgages, loans and derivatives worth more than $450 trillion (£288 trillion) globally.


The above from The Telegraph.