FRANKFURT (dpa-AFX) - A high price target from the bank HSBC for Merck KGaA shares boosted the share price on Wednesday. With an increase of 2.8 percent to around 171 euros, the shares were at the top of the Dax and reached their highest level since June.

HSBC analyst Rajesh Kumar wrote that investors could bet on a business recovery with the shares of the chemicals and pharmaceuticals group. This was clearly visible in the second half of the year and there was potential for rising consensus estimates. He raised the target price by 20 euros to 190 euros and reiterated the buy recommendation.