FRANKFURT (dpa-AFX Broker) - The upward trend in Stroer shares, which has been ongoing since March, continued on Thursday thanks to an optimistic analyst assessment. In early trading, the advertising group's shares gained 5.87 percent to 65.80 euros.

This is the highest price for the MDax-listed shares since spring 2022, after they have performed well this year with a gain of almost 16 percent so far, making them one of the favorites in the index of medium-sized companies.

The investment bank Oddo BHF has now upgraded Stroer from "Neutral" to "Outperform". The target price was raised from 60 to 100 euros. The shares had never traded at such a high, with the previous record high of EUR 82.50 dating back to the end of 2020.

The momentum in the core out-of-home advertising business is likely to be extremely robust in the short and medium term, wrote Oddo analyst Jerome Bodin in his latest study. Above all, however, is the fantasy of a strategy with high payouts from sales lots./ajx/stk

-----------------------

dpa-AFX Broker - the Trader News from dpa-AFX

-----------------------