FRANKFURT (dpa-AFX) - Jenoptik shares remain stuck in a downward trend. This was not changed on Wednesday by the publication of figures and the confirmed annual targets of the technology group.

After the early slide to a low since January at 27.70 euros, the shares were able to significantly stem the price losses: At midday, they were down around one percent at 28.60 euros. However, this still meant one of the bottom positions in the MDax. The shares also slipped below the 200-day line, which is an important indicator of long-term performance. For the year to date, however, the share price has risen by just under twelve percent, which is more or less in line with the market.

Overall, the quarterly report contained no major surprises, Warburg analyst Malte Schaumann summed up in an initial reaction. Order intake was down from the very high level of the previous year, as expected, but just missed the consensus estimate. By contrast, earnings before interest, taxes, depreciation and amortization (Ebitda) and sales were slightly above expectations.

Peter Rothenaicher of Baader Bank gave Jenoptik "excellent long-term growth potential" at an attractive valuation and sees the Ebitda margin clearly above expectations. In view of the good figures, the maintained outlook appears conservative, with the opportunities outweighing the risks./gl/mne/jha/