FRANKFURT (dpa-AFX) - The shares of Zalando started to recover on Monday and took the top spot in the Dax. In a friendly overall market, they benefited from a study by Deutsche Bank Research with a plus of 6.5 percent to 23.32 euros. They are thus back at the level of June 12 and have extended their small gain in the year to date to 8.6 percent. Ahead of the quarterly figures expected on August 6, analyst Adam Cochrane raised the share price target from EUR 32 to EUR 34 and reiterated his "buy" rating.

Cochrane expects the online fashion retailer's sales and operating result (EBIT) to have improved compared to the first quarter of the year and the annual targets to be confirmed. He referred to the slump in the share price in June and considers investors' concerns about the negative effects of the weather in the past month to be "misplaced". Despite weak data from the textile industry and the interim report from fashion company H&M, the expert expects the measures taken by Zalando to support sales growth as well as the easier comparability compared to brick-and-mortar retailers./ck/he