Cancom share above 20-day line - analysts see further potential

Continuation of the recovery rally on the stock exchange

After the recent price slide, the German stock market is likely to continue its recovery rally on Tuesday. The DAX is expected to open 0.4 percent higher at 13,129 points. It is thus approaching its record high of 13,500 points again. On the previous trading day, the leading index had closed 1.8 percent higher at 13,072 points.

Positive lead from the USA

Positive signals came from the USA on Monday evening. The Dow Jones rose 0.8 percent to a new record high. The broad S&P 500 gained 1.0 percent. The technology-heavy Nasdaq 100 index closed 1.4 percent higher.

Analysts recommend Cancom shares

Among the individual stocks, Cancom shares are likely to be in focus. The IT service provider had presented well-received quarterly figures on Friday. The share was recently quoted around 49 euros and was thus above its 20-day line. Analysts see further potential. The Baader Bank raised its price target from 60 to 64 euros. The DZ Bank confirmed its buy recommendation with a price target of 65 euros.

Economic data from the USA

In addition to the stock market, economic data from the USA will also be in focus on Tuesday. The Ifo Institute's business climate index for October will be published in the morning. In the afternoon, the US consumer confidence index for October will be published.