Amundi closed the session on Wednesday, January 28, 2026, at 74.65 euros, slightly down by 0.33% from the previous day. However, the stock of Europe's leading asset manager remains well-oriented over the week with a gain of 1.91% and continues its upward trend that began several months ago.
Amundi's stock has seen renewed interest from some financial analysts at the beginning of 2026. On January 20, Oddo BHF raised its price target from 77 to 80 euros, while maintaining an 'outperform' recommendation. This new target suggests a potential upside of about 7% from the current price. Five days earlier, Barclays also adjusted its valuation, raising its target from 66 to 73 euros. However, the British institution remains more cautious with a 'market-weight' recommendation. These successive revisions reflect a more favorable outlook on the asset manager's prospects, although analysts differ in their level of conviction. The stock is now trading slightly above Barclays' target but remains below that of Oddo BHF.
Technical Outlook Remains Constructive
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From a technical standpoint, Amundi is in a constructive configuration. The stock maintains itself above its 20-day moving average, set at 73.24 euros, indicating a favorable short-term trend. This position supports the bullish momentum observed since the beginning of the year, with an increase of 11.75% over three months and 12.68% over a year. The 14-day RSI stands at 67, in the high zone without reaching the overbought threshold. This indicator reflects a certain enthusiasm from investors while still leaving room before a potential technical saturation. The contained monthly volatility at 5.96 suggests relatively controlled price movements, in a context where the asset management sector benefits from a supportive environment for fundraising.
Au troisième trimestre, Amundi a prolongé les dynamiques positives avec une collecte de +15 Md€, une hausse des revenus de +5% et une progression du résultat avant impôt de +4 %.
Collecte soutenue (9M +67 Md€, T3 +15 Md€), encours record 2 317 Md€, croissance des revenus (+4,9 % 9M ajusté), forte progression d'Amundi Technology (+48% 9M/9M) et bonne dynamique des ETF (+28 Md€ 9M). Résultats ajustés en hausse: résultat avant impôt ajusté 9M 1 340 M€, résultat net ajusté 9M 978 M€.
Risks mentioned
Incertitude sur le renouvellement du contrat de distribution UniCredit à échéance juillet 2027
Risque de change: effet défavorable du dollar US (-12%) et de la roupie indienne (-15%) sur les encours
Risque de réallocation de l'EPFO pouvant entraîner sorties pour SBI FM (30-40 Md€ évoqués)
Volatilité des marchés pouvant impacter les encours et la collecte
Opportunities identified
Croissance en Asie (collecte 9M +29 Md€, forte contribution des JV et distribution directe)
Distribution Tiers et plateformes digitales (collecte 9M +21 Md€, 34% de la collecte via plateformes digitales)
Actifs privés et stratégies Megatendances (levée Mégatendances III 0,3 Md€)
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
