FRANKFURT (dpa-AFX Broker) - A fresh buy recommendation gives the shares of Deutsche Pfandbriefbank (PBB) new momentum on Monday. Among the favorites in the SDax of smaller Borsenwerte, they recently gained a good two percent to 7.235 euros, moving closer again to the 21-day line as a signal for the short-term trend. The shares are currently supported at the seven euro mark.

Warburg Research had given the shares a "buy" rating and a target price of 10.40 euros. Analyst Andreas Pläsier underlined the company's experience in the commercial real estate lending business and emphasized the attractive valuation of the stock.

Compared with the European banking sector, which has gained around twelve percent since the beginning of the year and is benefiting from the turnaround in interest rates by central banks, PBB's securities are lagging well behind and are currently still down slightly since the start of the year. The crisis in the real estate market, which is burdened by rising interest rates, has so far hampered the share price development./ajx/stk