Deutsche Bank boosted its rating on Zur Rose Group AG ( OTCPK:ZRSEF ) to a Hold rating after having the European pharmacy operator slotted at Hold. Sell rating from Hold.
Analyst Jan Koch said following Zur Rose's ( OTCPK:ZRSEF ) surprising announcement to sell its Swiss business, the firm revisited the investment case.
"We believe that the cash inflow of up to CHF360M clears the uncertainties surrounding Zur Rose's balance sheet, which has been a major overhang for the stock," noted Koch.
Deutsche Bank assigned a new price target of CHF56 to Zur Rose.
Shares of Zur Rose gained 0.28% to CHF52.80 in Zurich trading on Tuesday.
For further details see:
Zur Rose Group is upgraded by Deutsche Bank to a hold rating