Report published October 2, 2026
Europe Equity Research – Deutsche Bank Daily Update (October 2, 2026)
Deutsche Bank · October 2, 2026
Deutsche Bank provides a European equity research daily digest featuring target price adjustments and previews for the Q3 2026 reporting season across multiple sectors. Key highlights include Palfinger's Russia deconsolidation charge, solid previews for CCEP and CCH, and a sharp 19% decline in September European investment banking fees.
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Finvaulta summarizes Deutsche Bank's analysis. Attribute opinions, forecasts, time-sensitive values, and chronology to the issuer and report date; do not treat this page as an independent verification or a current market-data source.
Key Takeaways
- 1.European Investment Banking fees remained under pressure in September (-19% YoY), bringing 3Q26 fees down 7% YoY, driven by broad-based weakness across ECM, DCM, and M&A.
- 2.Palfinger is exiting its Russian operations via ring-fencing and deconsolidation, triggering ~EUR 135m in impairments in Q3 2026 and an estimated ~EUR 45m FX translation charge.
- 3.Beverage bottlers CCEP and CCH are expected to deliver strong 3Q26 sales, likely prompting guidance raises for organic revenue and operating profit.
Table of Contents
- TARGET PRICE CHANGES
- COMPANY UPDATES
- SECTOR UPDATES
Report data
Target Price Changes
| Metric | Estimate | Context |
|---|---|---|
| European Investment Banking Fee Growth | -19.0% | Year-over-year change in September investment banking fees across Europe. |
| Palfinger Russia Discontinued Operations Impairment | 135.0 EUR million | Non-cash impairment triggered by ring-fencing of Russian operations ahead of deconsolidation. |
| CCEP Organic Volume Growth Forecast | 3.0% | Estimated 3Q organic volume growth for Coca-Cola Europacific Partners (raised from +2.6%). |
Reports in this series
Europe Equity Research is shown in chronological order through this edition, published on October 2, 2026.
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