* DAX seen at 7,400 points by mid-2011, 7,625 by end-2011
* Strategists caution euro debt crisis may dampen growth
By Christoph Steitz and Daniela Pegna
FRANKFURT, Dec 8 (Reuters) - Germany's benchmark DAX index may reach a nearly four-year high by the end of 2011, a Reuters poll showed, as strong growth in emerging markets could help the country's export-oriented economy, Europe's largest.
The DAX, consisting of Germany's top 30 stocks, was seen at 7,400 points by mid-2011, up nearly 6 percent from Tuesday's close at 7,001.91, and significantly higher than the 6,750 predicted in the September poll, according to the median of 30 equity strategists.
The index -- which has risen over 17 percent year-to-date and outperformed the French CAC and London's FTSE -- is expected to rise further to 7,625 points by the end of the year, its highest level since January 2008, according to the median of 32 strategists polled over the past week.
"Germany continues to benefit from rising emerging markets such as China due to its strong export focus," Commerzbank strategist Andreas Huerkamp said.
Even though he expects global economic growth to weaken at first in early 2011, he sees the DAX at 7,600 points by mid-2011 and at 8,200 by the end-2011.
The DAX index includes global bellwethers such as engineering conglomerate Siemens, carmakers Daimler and BMW, steel group ThyssenKrupp and chemicals maker BASF.
Since most of those companies generate a major share of revenues and profits abroad, the benchmark index also reflects growth trends abroad and is more than just a proxy for the domestic economy.
ROCKY RIDE
For mid-2011, the forecast range was 6,300-8,349, widening to 6,100-9,191 for the end of the year, with strategist Heino Ruland of Ruland Research offering the top estimates and Helaba's Markus Reinwand providing the most bearish figure for mid-2011.
"The economic sentiment probably peaked with the most recent, unexpected rise in the Ifo Business Climate Index. With that, there is very little upside left for stocks," Reinwand said.
The widely watched Ifo index, a gauge of German business sentiment, last month rose to its strongest level since 1991, beating estimates and highlighting the German economy's robust shape.
Deutsche Postbank strategist Heinz-Gerd Sonnenschein also pointed to the resurging euro zone debt crisis, which already led to EU-IMF bailout funds for Greece and Ireland and could hit equity markets next year.
He added that the DAX could bottom out at 6,500 points during the first four to five months of next year before rising to 7,500 by mid-2011 and ending 2011 slightly lower at 7,250, indicating investors are in for yet another volatile year.
"Volatility looks set to remain high at the financial markets in 2011. Therefore, point forecasts should be seen and interpreted as rough indications," Stefan Hofrichter of Allianz Global Investors said.
"Against the backdrop of continued high uncertainty and volatility 2011 should become another year in which an active asset management can prove its superiority," he added.
(Additional reporting by Stefan Schaaf, additional polling by Bangalore Polling Unit; Editing by Jon Loades-Carter)