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Beiersdorf: broker upgrade supports share

( - The Beiersdorf share is one of the few DAX stocks to keep afloat in Frankfurt on Tuesday, after Berenberg upgraded its rating on it.

From a previous "sell" rating, the broker now recommends investors "hold" the share, deeming that it is now fairly valued, while inching up its target price from 93 euros to 94 euros.

Since it reinstated its coverage of the share on 15 October 2019, it has fallen by 10%, making it the worst performer amongst consumer goods stocks in Berenberg's coverage scope.

At midday, the Beiersdorf was up around 1%.

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