MARKET TALK: WestLB Upgrades Postbank To Hold From Reduce

0911 GMT [Dow Jones] WestLB upgrades Postbank (DPB.XE) to hold from reduce andreconfirms EUR59 target. Says 2Q data show pretax profit in line with WestLB andmarket expectations. Overall, views balance sheet-related revenues as a bitbetter than expected, with Postbank finally starting to benefit from higherinterest rate levels. Adds one fly in the ointment is weaker net commissionincome due to lower revenues in the postal and third-party business. Points outthat cost discipline helped compensate for the impact of tough German marketconditions. Shares -2% at EUR54.58. (APB)

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(END) Dow Jones Newswires 07-30-07 0511ET Copyright (c) 2007 Dow Jones & Company, Inc.


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