Following a buy recommendation from Deutsche Bank, Henkel DE0006048432 shares are in demand on Wednesday in a sluggish market environment.

The Düsseldorf-based company's shares climbed 1.6 percent to €71.98 on the Tradegate trading platform. This would put them above their 50-day moving average on Xetra.

Deutsche Bank expert Tom Sykes wrote that a downturn is priced into the shares, which isn't reflected in the data. Henkel shares could therefore begin to revalue without any bad news—they wouldn't even need good news.

With Sykes' increased price target of €80, Henkel shares would return to the level of mid-March. At that time, they had fallen sharply from their annual high of €88.50 following the previous year's results and outlook. They only truly stabilized again at €66 in mid-April.