BNP Paribas Shares Drop 2.2% Despite Two Analyst Upgrades
BNP Paribas stock fell by 2.2% this Thursday midday, dropping to €87.47 after closing at €89.44 the previous day. The banking stock is trading below its 50-day moving average and is part of a week-long decline, while the CAC 40 also fell by 0.39% during the session.
Significant Drop in BNP Paribas Shares
BNP Paribas shares show a notable drop this Thursday, intensifying the correction that began a week ago (?2.07% over seven days). The stock has fallen below its 50-day moving average, which is at €89.11, a signal indicating a weakening of the short-term upward momentum. At €87.47, the price is approaching the support level identified at €85.33, a technical zone that now represents the next threshold to monitor. The RSI, an indicator measuring the speed of price changes, is at 41, in the lower intermediate zone, yet not signaling an oversold condition. It is important to note that, despite this recent decline, the stock has still gained 11.19% over three months and nearly 20% over a year, which puts the current consolidation into perspective. The European market presents a cautious session environment, with the DAX losing 0.10% and the FTSE 100 down by 0.34%. The Nikkei 225, for its part, closed down 1.04% this Thursday.
Upward Revisions Despite Downturn
Despite the downturn session, two upward revisions of price targets occurred at the beginning of the week. Rothschild & Co Redburn raised its target from €96 to €103 on Tuesday, while maintaining its buy recommendation. The day before, JP Morgan had raised its target from €105 to €106, with an 'overweight' rating. At €87.47, the current price shows a significant gap compared to these targets, with a potential upside between 17.8% and 21.2%. Regarding the schedule, the first quarter 2026 results are expected on April 30, followed by the general meeting on May 12. These dates will provide new elements for operators to assess the trajectory of France's largest bank by market capitalization. However, the market environment remains marked by a VIX volatility index that stood at 24.93 points at the last available close, a still high level indicating some nervousness in global markets.
