FRANKFURT (dpa-AFX Broker) - Following the takeover of US software company GoCanvas, Nemetschek shares climbed to their highest level since the beginning of 2022 on Thursday. Chart-wise, the way is now clear to the record of fall 2021 at a good 116 euros. At midday, the shares of the building software specialist were trading at 94.50 euros, around 3.5 percent higher than the day before.

Of course, the positive sentiment in the technology sector following records on the Nasdaq stock exchange also helped. The European sector index Stoxx Europe 600 Technology reached its highest level since 2000.

Analyst Harald Hof from MWB Research gave up his sell recommendation in view of the internationalization of the Munich-based company. With his increased price target of 88 euros, however, he remains below the current Xetra level. He praised the transaction as highly value-enhancing and as making a robust contribution to growth. The price is also only slightly above the Nemetschek valuation level and is therefore reasonable. Baader expert Knut Woller also praised the acquisition, which strengthens the company's position on the North American market./ag/bek/men