Long-awaited European recovery led to solid stock mkt performance and re-rating with MDAX trading at almost 20% premium to historical P/E, Berenberg says. • However, says German mid-cap universe still attractive mkt because of favorable macro environment, high-quality mid-cap businesses • Bechtle, CEWE Stiftung & Co KGaA, Gerresheimer, Tipp24, United Internet, Zumtobel top picks (more defensive growth or stock-specific growth drivers, unlikely to suffer negative surprises linked to slower-than-expected growth going into 3Q results)