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Deutsche Bank lowered the firm’s price target on RWE AG (RWEOY) to EUR 38 from EUR 41 and keeps a Buy rating on the shares. Having called time on the rally in October, the firm is upgrading its market relative view back to positive for the sector. European utilities trade at an exceptional discount, with thematic risks overestimated, Deutsche tells investors in a research note on Friday.

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Read More on RWEOY:

• RWE AG price target lowered to EUR 42 from EUR 46.50 at Berenberg

• RWE AG price target lowered to EUR 45.50 from EUR 52.50 at RBC Capital

• RWE AG price target lowered to EUR 47.50 from EUR 48 at JPMorgan

• RWE AG price target lowered to EUR 42 from EUR 43 at Citi