FRANKFURT (dpa-AFX) - Raised profit targets by Eon gave the shares of the Essen-based utility company pre-market momentum on Friday. They gained 0.9 percent to 11.71 euros on Tradegate compared with the Xetra stock market close. Eon had raised its annual targets the previous evening following an easing on the energy market.

The new forecast for net income was 11 percent above the average analyst estimate (consensus) provided by Bloomberg, Jefferies analyst Ahmed Farman wrote. However, he qualified that the drivers of the forecast update "appear to be fairly specific to 2023," so he doesn't think they will have too much of an impact on the price action that day.

JPMorgan analyst Vincent Ayral, meanwhile, wrote that the market should certainly welcome Eon's "very solid results." According to him, Eon was also able to exceed its upwardly revised annual targets.

Eon shares have been among the ten biggest winners in the Dax so far this year. Its gain is just over 24 percent, while the leading index has risen by just under 18 percent in the same period./ck/zb