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Merck KGaA: a top riser on the DAX after upgrade

( - Merck KGaA is a top riser of Germany's blue-chip DAX index on Friday, up 2% after an influential broker upgraded the stock.

In a note on the European pharma sector, Bank of America-Merrill Lynch said it has upgraded its rating on the Merck share from "underperform" to "neutral" on the back of a "better mid-term outlook."

Citing the group's "positive momentum," BAML also raised its target price for the stock, from 100 euros to 110 euros.

The stock is currently up 2% at 99.3 euros in Frankfurt.

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