Ayvens share rebounds 3.5% and breaks back above its support at €10.33
The long-term car leasing company benefits this Thursday from a dual catalyst: Oddo BHF upgrades its rating on the stock to outperform and the dividend payment takes place today. In a nearly stable SBF 120, this rebound stands out against the downward trend of recent weeks.
Oddo BHF upgrades to outperform and raises its target to €16 on Ayvens
The event of the day is clear. Oddo BHF revised its rating on Ayvens this Thursday, moving from neutral to outperform, while raising its price target from €12 to €16. Relative to the current price of €10.69, this target represents an upside potential of nearly 50%. The bank is thus radically changing its tone on the stock, which had previously been included in its watchlist.
This reversal comes as Ayvens pays out its dividend today, a timing that concentrates attention on the stock. All of this is taking place in a globally sluggish Paris market: the CAC 40 gains 0.13% during the session and the SBF 120 advances 0.17%, which makes Ayvens' jump all the more visible. According to the consensus of analysts tracked, the stock is trading at approximately 8.5 times expected earnings for the current fiscal year, and 7.8 times those of the following fiscal year, with expected earnings per share growth of 9.1% from one fiscal year to the next.
A technical rebound on a stock still below its moving averages and down on the month
Ayvens is trading at €10.69 during the session, up 3.48% from yesterday's close at €10.33. This level corresponds precisely to the support threshold identified at €10.33, which the stock had broken through in late August during a difficult session for the entire Paris market. Today's rebound brings the price back above this floor, but the setup remains under pressure: Ayvens is still trading below its 20-day MA at €11.26 (gap of -5.06%), below its 50-day MA at €11.53 (gap of -7.29%) and below its 200-day MA at €11.22 (gap of -4.72%).
Over the week, the stock remains down 4.38%, and the decline reaches 7.45% over one month. The RSI at 30 is in the oversold zone, consistent with this selling exhaustion of recent weeks. The next resistance threshold to monitor is located at €12, which corresponds to Oddo BHF's previous price target before its revision this Thursday.
