Accor Shares Hit All-Time High
The hotel group reaches a new all-time high during the session, surpassing its previous record set eleven years ago. The increase is part of an upward trend that began in the spring, supported by analysts' target upgrades.
Stock Hits €51.48 During Session and Sets a Historical Record
Accor's stock rose 2.48% to €51.28 in mid-morning trading, after reaching €51.48 intraday. This level surpasses the previous all-time high of €51.40 set in 2015. The stock is among the top gainers in the CAC 40, as the Paris index rises by 0.33%.
The crossing of the previous resistance at €50.04 during the session confirms the technical breakout that began earlier in the week, and the stock remains well above its moving averages: +9.11% compared to the MM20 (€47.00) and +14.26% above the MM200 (€44.88). The RSI at 68 indicates a strong buying momentum without tipping into extreme overbought territory. Over the week, the stock has gained 6.5%, bringing its three-month gain to over 25%.
Oddo BHF and JP Morgan Simultaneously Raise Their Price Targets
The movement comes two days after the dual boost from analysts. Oddo BHF raised its target from €51 to €54 with an 'outperform' rating, while JP Morgan increased its target from €59 to €60.50, reiterating an 'overweight' rating. The two analyst opinions published on June 23 indicate a potential upside of between 5% and 18% relative to the current price.
The session also unfolds in a context of easing in risk assets, with the VIX dropping 7% to 18.12. The next round level identified above the current price is €55, with no previous technical reference in this new all-time high zone.
