FRANKFURT (dpa-AFX Broker) - A recommendation by the French bank Exane BNP Paribas drove the recovery of LEG Immobilien shares on Wednesday. The shares rose to their 21-day line, currently at around 75.1 euros. This short-term trend indicator is still pointing downwards and initially forms resistance. However, overcoming it could give the share price a boost. The shares recently traded at EUR 74.30 - an increase of around 4 percent.

Exane-BNP analyst Rob Jones raised the price target for LEG shares from EUR 70 to EUR 90 and subsequently upgraded them from "Neutral" to "Outperform". Like other experts, Jones believes that the key interest rates of the major central banks have reached their highs and will now fall. This will result in lower capital costs for real estate companies. Jones prefers shares in companies that achieve structural profit growth, are not too heavily indebted and have rental growth above inflation./mis/jha/