FRANKFURT (dpa-AFX) - A more cautious rating from investment bank Bernstein pushed RWE shares further away from their fifteen-year high on Friday. The shares of the Essen-based company fell by as much as 3.5 percent at times, though losses were recently pared back to around two percent at 51 euros. Earlier this month, they had reached a peak of 54.76 euros, their highest level since 2011.
Bernstein analyst Deepa Venkateswaran believes the rally has likely run its course for now. The growth potential is now priced in, she wrote. Opportunities and risks are balanced. Her raised price target of 55 euros had almost been reached recently. So far this year, RWE shares have gained as much as 21 percent at their peak—following an even stronger performance last year./ag/jha/
