STOCKS NEWS EUROPE-Henkel gains on Commerzbank upgrade

Fri Apr 9, 2010 8:25am BST

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Shares in Henkel (HNKG_p.DE) rise 2.2 percent to the top of Germany's blue-chip index .GDAXI after Commerzbank upgrades the stock to "add" from "hold" and raises its price target to 45 euros from 37 euros. "We increase our assumptions for profitability as we had underestimated the magnitude of cost savings. On the back of restructuring benefits and operating leverage, earnings momentum looks set to accelerate in H1 2010," the broker writes.

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