FRANKFURT (dpa-AFX Broker) - Infineon shares gained 1.7 percent on Tradegate on Wednesday in an otherwise slow pre-market trading. They benefited from an upgrade from "Equal-weight" to "Overweight" by the bank Morgan Stanley. The price target, which has been raised to 40 euros, gives the chip manufacturer's shares 30 percent upside potential compared to Tuesday's closing price.

Much of the bad news is already priced into Infineon's share price, wrote analyst Lee Simpson. This applies above all to concerns about declining market shares on the Chinese market. Statements from the company also indicate that the order backlog has bottomed out. If inventories are also reduced, margins could recover again./bek/mis