FRANKFURT (dpa-AFX) - JPMorgan's optimistic stance increased investor interest in the two major German consumer goods stocks on Wednesday. Following a buy recommendation from the US bank, Henkel shares topped the index with a gain of 2.6 percent. It also reached a high since the end of October. Slightly behind Henkel was DAX competitor Beiersdorf, which rose by 1.3 percent. JPMorgan held out the prospect of positive price drivers here.

In her sector outlook, analyst Celine Pannuti is generally more optimistic about manufacturers of household and personal care products, whose currently still relatively low share yields are on the verge of a turnaround - also due to the potential for returns to shareholders. It remains cautious about certain companies with higher valuations and the spirits sector.

With a price target of 100 euros, Pannuti believes that Henkel shares, which are now rated "overweight", could rise by almost a quarter. She attributed this to the valuation of the share, which is still significantly cheaper than that of the competitors - and this despite the fact that Henkel's annual targets for 2024 have been increased twice, the expert emphasized.

Pannuti gave Beiersdorf shares, which were already rated "Overweight", "Positive Catalyst Watch" status ahead of the annual figures expected in February, which means she expects positive price drivers. She also placed Unilever on the "Analyst Focus List". The British group's shares were up 0.6 percent in London.

So far, Beiersdorf and Henkel have had mixed annual results compared to the DAX. Although Henkel is up 11% in 2024, it is more in the middle of the leading index, which has gained around 15% this year. Beiersdorf is clearly lagging behind. The shares have lost more than 9 percent so far, but this also puts them in a secure midfield position.

Consumer goods stocks such as Beiersdorf and Henkel are often said by investors to have defensive qualities in times of economic uncertainty./tih/gl/stk