FRANKFURT (dpa-AFX) - The shares of Delivery Hero continued to stabilize on Thursday. With a plus of a good five percent to 22.40 euros, they topped the MDax. On Tuesday, the shares of the food delivery service had slipped to a record low of 20.095 euros despite the positive assessment of the exit from competitor Deliveroo.

The share price was supported by a positive study from the major Swiss bank UBS. Analyst Jo Barnet-Lamb continues to recommend a buy with a price target of 45 euros, which is a good doubling of the share price from the current valuation level. In 2023, Delivery Hero was the biggest loser in the index of medium-sized German companies. The development in the still young new year also looks poor.

Data for the transaction volumes of food deliveries in South Korea showed an acceleration in growth in December compared to the two previous months, wrote the UBS expert. The data is a good indicator for the company's business there. In addition, competitor Coupang and the provider Woowa, which was acquired in 2021, were exempted from the South Korean government's new regulatory measures for e-commerce companies.

Delivery Hero has been listed on the stock exchange since 2017. The shares of the company, which was founded in 2011, were placed at EUR 25.50 per share. During the coronavirus pandemic, the shares temporarily cost more than 145 euros due to the high demand for food deliveries. At the time, Delivery Hero was worth almost 40 billion euros on the stock exchange and the stock was also listed on the DAX at times.

In the meantime, the stock market value has fallen to just over six billion euros. The largest shareholder is the Dutch investment holding Prosus, which holds almost 30 percent of the shares./gl/zb/jha/