FRANKFURT (dpa-AFX) - Following positive analyst comments, shares in Zalando continued their recovery on Tuesday to the 200-day exponential average line. The shares of the online fashion retailer have now gained 11 percent to 23.66 euros in three trading days. Analyst Christian Salis from Hauck & Aufhäuser Investment Banking had placed the shares on the private bank's favorites list in the morning. He expects solid quarterly results despite the adverse industry environment. His price target remains at 42 euros.

Felix Dennl from Bankhaus Metzler speaks of "heterogeneity between offline and online dynamics" in his outlook. While the industry magazine Textilwirtschaft has reported meagre fashion sales in Germany in recent weeks and H&M has also disappointed recently, Zalando is doing better, according to the expert. The rainy weather in May and June affected online retailers less. Dennl's operating profit forecast is ten percent above consensus. His price target is now 32 euros. The highest price target of 47 euros comes from Warburg Research and was last mentioned in May./ag/mis