FRANKFURT (dpa-AFX Broker) - Shares in Bechtle rose to the top of the MDax on Tuesday in a subdued market environment following an optimistic analyst commentary from Deutsche Bank. While the index of mid-cap stocks moved moderately in the red, shares in the IT service provider rose 2.2 percent to 37.71 euros. They thus continued to move between the 100- and 200-day lines that have been limiting the price trend upwards and downwards since mid-January. The popular indicators for the longer-term trend are thus currently not providing any clear chart signals.

Optimism was fueled by Deutsche Bank. Analyst Lars Vom-Cleff expects preliminary business figures for 2022 as early as the beginning of February and believes that Bechtle will achieve or even exceed the forecasts. Vom-Cleff maintains his "Buy" rating for the share and minimally increases the price target to 53 euros, which is around 40 percent above the current price.

The market also attributed the good performance of the share to the need to catch up with direct competitor Cancom. The latter's share, which is listed on the SDax, has already gained almost 20 percent this year, whereas Bechtle has only gained just under 14 percent. Accordingly, Cancom shares developed more sluggishly on Tuesday with a price gain of 0.3 percent. Cancom had last reached a high since August, while Bechtle had since October. At the end of the previous week, both shares had briefly suffered somewhat from profit-taking./tih/niw/mis