FRANKFURT (dpa-AFX Broker) - A study by the Metzler bank helped Teamviewer shares to recover slightly on Thursday. As one of the top stocks in the MDax, they rose by 0.8 percent to 13.28 euros at lunchtime. At times, the shares of the software company had risen to 13.50 euros. However, the 21-day line - currently at around 13.55 euros and pointing downwards - has recently been like a lid on the share price. It describes the short-term trend.

Metzler analyst Oliver Frey resumed his "buy" rating for Teamviewer shares with a target price of 21 euros. The company has suffered the same fate as many other "pandemic favorites", he wrote. Excessive growth rates had been extrapolated for the coming years, which then led to disappointment and skepticism after the pandemic.

Despite everything, however, Teamviewer's business development was solid. The targets for 2023 had been achieved and those for 2024 were achievable, which Frey also credits to the new CFO. In addition to attractive sales growth, high profitability, strong cash flow and an attractive share valuation, he also points to the increasing cost discipline./ck/mis