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Fraport: shares edge up as broker raises target price.

(CercleFinance.com) - Commerzbank has raised its target price on Fraport from 81 euros to 96 euros, sending the German airport operator's shares up over 1% in Frankfurt today.

The broker - which maintains its "hold" rating on the stock - cites the group's positive growth momentum, with Frankfurt airport passenger up 11.8% in November, compared to consensus of just 7%.

Commerzbank has therefore raised its trafic estimates at Frankfurt airport for 2017, 2018 and 2019.

Fraport shares, which have risen by 56.5% so far this year, are currently 1% at 87.9 euros in mid-afternoon trading in Frankfurt. They peaked at 88.2 euros earlier in the trading session today.

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