FRANKFURT (dpa-AFX) - A strong fourth quarter and promising prospects drew increased investor interest in Knorr-Bremse on Thursday. After a peak gain of around eight percent, the share price of the brake manufacturer was up 6.4 percent. The shares reached their highest level since September and were among the biggest winners in the MDax, which was also firm.

Knorr-Bremse reported unexpectedly strong annual results, wrote analyst Akash Gupta in an initial reaction. The company impressed with a record order backlog, the strength of which Lucas Ferhani from Jefferies Research emphasized positively.

The outlook for 2024 is also encouraging, Gupta added. Based on the mean value of the target ranges mentioned, one Borsianer calculated in an initial assessment that the consensus estimates could rise by up to two percent./tih/jha/