June 5, 2012 / 11:03 AM / 5 years ago

STOCKS NEWS EUROPE-Centrotherm gains on LBBW upgrade

Shares in German solar equipment maker Centrotherm rise 7.1 percent to the top of Frankfurt’s technology index after LBBW upgrades the company to “buy” from “hold”.

“We continue to be convinced by the company’s technological potential. Based on our conservative valuation approach, we calculate 5.74 euros per share just for the group’s core business,” LBBW analyst Erkan Aycicek writes.

Shares in Centrotherm - whose shares stand at 5.50 euros a share - have lost 44 percent year-to-date, compared with a 3,7 percent gain in the TecDAX.

Reuters messaging rm://christoph.steitz.thomsonreuters.com@reuters.net

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