BNP Paribas Shares Targeted at 111 Euros: UBS Foresees +22% Potential
BNP Paribas shares slightly declined this Wednesday morning, going against a generally strong weekly trend. The bank is currently priced at 90.92 euros, down by 0.21% from the previous day, while the CAC 40 index has fallen by 0.63% during the session. However, UBS has recently raised its price target on the stock, just two weeks ahead of the first quarter earnings release.
UBS Raises Price Target on BNP Paribas
In a note dated April 14, UBS raised its price target on BNP Paribas from 109 to 111 euros, while maintaining a 'buy' recommendation. At the current price of 90.92 euros, this target implies a potential revaluation of about 22%. This adjustment comes at a busy time for the banking group, which is set to publish its first quarter 2026 results on April 30, followed by the general meeting scheduled for May 12. Over the week, the stock has shown an increase of 8.6%, and its annual performance has reached 32.73%. In Europe, the banking sector shows mixed results this Wednesday: AXA is down by 0.41% while ING Groep remains nearly stable (+0.02%). Across the Atlantic, JPMorgan Chase closed the previous day down by 0.82%, whereas Morgan Stanley was up by 1.21%.
Technical Analysis of BNP Paribas Shares
Technically, BNP Paribas shares are currently in the upper part of their Bollinger Bands, at 92% of the range between the lower bound (78.39 euros) and the upper bound (91.99 euros). This proximity to the upper threshold indicates a potential overbought zone and could hinder short-term progress. The most immediate resistance is at 92.08 euros, a level the stock has not yet crossed. The RSI, a momentum indicator measuring the relative strength of upward and downward movements, is positioned at 60, indicating a neutral to slightly dynamic zone. Moreover, the price remains above its 50-day (88.88 euros) and 200-day (80.21 euros) moving averages, confirming the medium and long-term upward trend initiated in recent months. The next major catalyst remains the quarterly publication on April 30, which should provide an updated reading of the group's operational trajectory.
