Deutsche Bank would be better off buying a mergers and acquisitions boutique than acquiring JP Morgan, said one European banking analyst amid speculation that the two banks could be forging a deal soon.

Speculation that Deutsche would take over JP Morgan follows a report in a German magazine, Wirtschaftwoche, that the banks were in talks. JP Morgan shares closed at a 52-week high of $168 (€189) compared with $159.93 a share on September 5.