STOCKS NEWS EUROPE-D. Bank upgrade lifts Wincor Nixdorf

Shares in Wincor Nixdorf (WING.DE) gain 6.9 percent, making them the top gainers among German midcaps .MDAXI, after Deutsche Bank raises its stance on the cash machine specialist to "buy" from "hold" and lifts its price target to 52 euros from 35 euros.

"Wincor has navigated well through the crisis; it now cuts guidance for the first time since its IPO in the third quarter of its 2008/09 business year. However, we believe this cut helped sentiment correct to the downside and raises confidence that Wincor will resume growth quickly and should recover at least 85 percent of peak earnings within the next two years," the broker says in a client note. Deutsche Bank says it expects emerging markets to continue to be structural drivers of the global ATM market and Wincor should be able to benefit from equipment upgrade and its penetration of the service market.

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