At the top of the CAC 40, Orange share rebounds 1.5% despite Barclays target price downgrade
The telecom operator's share is making a notable recovery in a slightly declining Paris market. This rebound occurs as brokerage houses revised their targets this morning, and Orange Business has just announced a new qualification for its secure cloud offering.
Two target price revisions in opposite directions on Wednesday
Orange share gained 1.6% to €14.29 while the CAC 40 fell 0.35%, placing it among the strongest gainers in the index. Two brokerage houses published their views today. JP Morgan raised its target from €22.50 to €22.60 and remains at overweight, while Barclays lowered its target from €16.50 to €15.50 while maintaining a neutral weighting.
Compared to the current share price, JP Morgan's target leaves an upside potential of approximately 58%, while Barclays' leaves approximately 8.5%. The consensus of analysts on the stock is detailed on the page dedicated to Orange analyst opinions.
A rebound that remains below the stock's three moving averages
The share is recovering after a decline of nearly 7% over one month, but it is still trading below its three moving averages: 2.69% below the 20-day MA (€14.68), and 7.90% below the 50-day MA. The RSI at 34 remains close to the oversold zone, a sign of accumulated selling pressure in recent weeks. On the news front, Cloud Avenue's second SecNumCloud qualification, obtained from ANSSI and announced today, brings to two the number of Orange Business trusted cloud offerings. The support at €13.71 remains the closest level in case of a further decline.
