FRANKFURT (dpa-AFX) - Hypoport's shares received a tailwind on Wednesday from an encouraging analyst commentary by the private bank Berenberg. The shares of the financial services provider rose by almost 6 percent to just under EUR 279 in the early afternoon, putting them at the top of the small-cap index SDax.

The Lübeck-based company's shares thus recovered from their recent losses, having fallen by up to 28 percent since the end of May. After a few days, the share price returned above the 50-day line, which is a popular indicator for the medium-term trend. Since the beginning of the year, the share price has now risen by almost 60 percent.

The recovery is taking shape, wrote analyst Gerhard Orgonas with a view to the mortgage market. The financing service provider's targets for 2024 appear conservative. The operating levers are high in times of market recovery. With a price target that has been raised from 215 to 300 euros, Orgonas now sees some upside again./lfi/tih/jha/