Deutsche Bank sees $2 billion write-down from Lehman in Q2

(Reuters) - Deutsche Bank said it expects Lehman Brothers Holding LEH.N to write down $2.3 billion in the second quarter, adding that the investment bank does not face a major liquidity risk in the short-term.

"We feel that Lehman is not Bear Stearns BSC.N when it comes to liquidity risk," the brokerage said.

Deutsche Bank maintained its "buy" rating and a price target of $52 on the company's stock.

Majority of the write-downs will be due to commercial mortgages (including commercial mortgage-backed securities) and, to a lesser degree, leveraged loans and residential mortgage, Deutsche Bank analyst Mike Mayo said in a research note.

On March 11, Deutsche Bank had said it expects 12 large global financial firms to write-down an additional $62 billion in the first half of 2008, including Lehman's share of $4.6 billion.

Shares of the company were trading down 63 cents at $39.91 in the morning trade on the New York Stock Exchange.

(Reporting by Supantha Mukherjee in Bangalore, Editing by Dinesh Nair)