FRANKFURT (dpa-AFX) - A positive comment from UBS drove the shares of chipmaker Infineon on Monday. Up 4.2 percent at 32.31 euros, they were the second-best performer in the Dax in the morning, which gained 0.4 percent.

For UBS analyst Francois-Xavier Bouvignies, Infineon is his favorite at the beginning of the year. The group should benefit from developments in the field of artificial intelligence, the ramp-up of silicon carbide chip production for new customers, and exchange rate effects. The analyst continues to rate the shares as "buy" with a price target of 41 euros.

With the price recovery, the securities are now wrestling with the 21-day line, a short-term indicator. This average price continues to trend upward. Further resistance for the price recovery is likely to be in the range between 33 and 34 euros – the price turned downward here several times in December./mis/jha/