(new: share price, experts and more details)

FRANKFURT (dpa-AFX) - A more optimistic outlook for the year gave fresh momentum to the recovery of shares in construction software provider Nemetschek on Tuesday. The shares climbed a good 6 percent to 66.58 euros to top the MDax index of mid-cap stocks. At the high for the day, they had even risen to more than 68 euros.

If the shares were to hold their gains until the close of trading, they would also leave the resistance levels around 64 euros and 66 euros behind them for the time being.

According to analysts at the investment house Kepler Cheuvreux, the company is expecting higher annual sales than previously after an excellent third quarter. Accordingly, the increase in revenue is likely to be six to eight percent, which, according to one trader, is more than expected by the market. In terms of the profit margin before interest, taxes, depreciation and amortization, Nemetschek is aiming for the upper end of the previously communicated forecast of 28 to 30 percent.

Analyst Armin Kremser of DZ Bank now expects market expectations to rise. In terms of sales, the need to adjust the consensus is likely to be marginal at one to two percent, but in terms of operating profit, the consensus is likely to increase by around five percent, the expert explained in an initial assessment. For the coming years, however, there is little potential for adjustment. In addition, after the recent price rally, a more optimistic outlook should also be priced into the share price.

Just a week ago, analysts at investment house Oddo BHF were optimistic about the company. They expected strong quarterly results and a solid fourth quarter. They raised the target price to 85 euros.

They thus trust the shares to continue their recovery and to jump above the 2023 annual high of 75.32 euros from June. Despite the recent setback from the annual high, Nemetschek 2023's price gains still add up to almost 40 percent, which means a place in the top group of the MDax. However, there is still a long way to go to reach the record high of around 116 euros from November 2021./mis/ajx/jha/