FRANKFURT (dpa-AFX) - RWE shares held their ground at the top of a weak Dax on Friday, rising 0.2 percent to 31.22 euros.

Analyst Wanda Serwinowska of the major Swiss bank UBS lowered the price target for the energy company's shares from 52 to 49 euros, but still sees sufficient scope for a buy recommendation.

The expert explained that RWE had suffered from falling energy prices at the beginning of the year, as well as from the expectation that the key interest rates of important central banks such as the ECB and the Fed could remain high for longer than previously thought. In the meantime, however, there are more positive signals again with regard to the prices for renewable energy.

The RWE share price had fallen from a good 42 euros in mid-December to around 30 euros by the end of February. Since then, it has fluctuated for long periods between 30 and around 32 euros./mis/jha/