FRANKFURT (dpa-AFX) - A buy recommendation from Berenberg Bank fueled Redcare Pharmacy's rally again on Friday morning. In pre-market trading on the Tradegate platform, the shares of the online pharmacy traded 3.5 percent above their Xetra closing price. The share, which had achieved the largest price gains among the three most important indices in the DAX family in 2023, had recently retreated somewhat from its pre-Christmas high.

Last year, the Redcare share price roughly tripled, but in Berenberg's view, the rally was not over yet. With a price target that has been raised to 190 euros, analyst Gerhard Orgonas still sees almost half the price potential at the current highest level for two years. In his opinion, it is likely that e-prescriptions will finally be available online in the first quarter. In conjunction with the continuing gains in market share, rising margins and the inflow of funds from over-the-counter medicines, this should drive the share price up significantly./tih/jha/