Eiffage Stock Drops into Oversold Territory Despite Barclays' €178 Target
Eiffage stock fell 2.11% this Thursday morning to €132.50, amid a significant downturn in the CAC 40, which lost 1.64% during the session. The construction and concessions group is struggling alongside other sector heavyweights, with Vinci and Schneider Electric recording losses of -2.21% and -3.00% respectively. Despite this decline, the stock has still gained 19.1% over the past year.
Technical Indicators Highlight Selling Pressure
Eiffage's stock price is now at €132.50, very close to its lower Bollinger band set at €130.37, indicating unusual selling pressure. The RSI, an indicator measuring the relative strength of the stock in recent sessions, has dropped to 23, a level considered as an oversold zone. This threshold suggests that the stock has experienced a rapid and significant decline in recent days, having lost 2.39% over the past week and moving significantly away from its 20-day moving average positioned at €139.10. The most relevant technical support is at €127.05. Approaching this level could be an important test for the short-term trajectory of the stock. In the longer term, the 200-day moving average at €119.33 remains well below the current price, reflecting the underlying bullish trend observed over the past year.
Barclays Raises Price Target Amid Short-Term Correction
In a note published on March 17, Barclays raised its price target on Eiffage from €146 to €178, while maintaining its 'overweight' recommendation. At the current price of €132.50, this target implies a potential upside of about 34%. This significant increase comes even as the stock undergoes a short-term correction. Regarding the financial calendar, the group's general assembly is scheduled for April 22, followed by the publication of the first quarter 2026 revenue on May 12. These dates will provide investors with new insights to assess the operational dynamics of the group, whose activities include construction, infrastructure, and motorway concessions.
