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RWE: share up on analyst's comments

( - On Tuesday the RWE share is one of the best performers in the DAX index on the Frankfurt Stock Exchange, thanks to a note from Berenberg, which raises its target price for the share.

In its note, the broker - which praises the efforts undertaken by the German electricity company in the field of renewable energy - believes that its recent capital increase of two billion dollars will enable it to boost its growth prospects in green electricity.

"We continue to believe that the implied valuation of its renewables activity stands at an unjustified discount to its fair value and to peer multiples," the broker says.

In this context, the broker has raised its target share price from 35.5 euros to 39.5 euros, maintaining its buy rating: RWE also remains its top pick in the European utilities sector.

The share is currently up around 1%.

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