Deutsche Bank announced on Wednesday that it had upgraded its recommendation on the flatexDEGIRO share from 'hold' to 'buy', with a parallel increase in its target price from nine to 13 euros.

In a research note, the financial intermediary believes that it is time to take another look at the dossier, now that the integration of DEGIRO has been completed and the dispute with the German financial regulator (BaFin) has been settled.

The analyst also points to the clear improvement in the performance of the online broker's key business indicators, as well as its recently unveiled plans for capital redistribution.

'As the dust settles, we believe that 2024 could be an opportunity for flatexDEGIRO to refocus on commercial issues and continue to grow its core businesses', concludes DB.

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