Accor's Stock Rises 2% and Breaks Resistance, Among Top Performers in the CAC 40
The hotel group continues its upward trend and ranks among the best performances in the CAC 40. Two brokerage houses have raised their price targets, reinforcing the momentum that began in the spring.
Accor Breaks its €49.02 Resistance and Crosses the Psychological Threshold of €50
Accor's stock gained 2.08% to close at €50.04, among the highest risers in the CAC 40. During the session, the stock broke through its resistance at €49.02, a threshold that had been tested several times in recent weeks, and maintained above it. This breakout extends the movement that began in mid-June, following the rebound noted during the June 15 session. The stock is now well above its three moving averages: +6.83% from the MM20 (€46.84), +10.88% above the MM50 (€45.13), and +11.60% above the MM200 (€44.84). With an RSI at 64, it shows a strong buying dynamic without entering an overheating zone. Over three months, the stock has gained 24.26%, and 11.75% over the past month.
Oddo BHF and JP Morgan Raise Their Price Targets on the Hotel Sector
Two brokerage houses adjusted their opinion on the stock on June 23. Oddo BHF raised its target from €51 to €54, confirming an 'outperform' rating. JP Morgan increased its target from €59 to €60.50, reiterating an 'overweight' rating. Relative to the closing price, these targets offer an implicit potential between 7.9% and 20.9%. The session context remains supportive, with the CAC 40 up 0.54% at 8,385.49 points while the VIX relaxes to 18.46 (-5.28%). The stock is gradually approaching the next psychological milestone of €55, with no previous technical resistance identified between the current price and this round level.
