Deutsche Bank (DB) has a depressed valuation reflecting its fundamental woes, namely shrinking revenues and poor profitability, but the bank has a clear map to turn around its business. However, until it shows that it can deliver its targets, Deutsche Bank's shares remain a value trap.
Strategic Update
As I've recently analyzed, Deutsche Bank announced a new strategy a few months ago, aiming at strengthening the bank and reducing its reliance on investment banking, which has been one of its weakest businesses since the global financial crisis.
To improve its business profile,