FRANKFURT (dpa-AFX) - Buy recommendations from Jefferies drove the shares of the two warehouse technology manufacturers Kion and Jungheinrich on Monday. In early Xetra trading, Kion's share price rose 1.5 percent and Jungheinrich's gain was as high as 3.5 percent. Jungheinrich thus made it above the 21-day line, which has been falling since the beginning of August and is a popular indicator of the short-term trend.

Economic worries had ensured that a too negative scenario was recently priced into the two stocks, analyst Lucas Ferhani wrote in the initial assessment.

The two companies had experienced a boom in 2021 during the pandemic, which was normalizing. But they should soon benefit from massive order backlogs at higher prices, giving them a safety cushion into 2024. A clear focus on price and cost control should also limit margin erosion./tih/jha/