BNP Paribas Shares Jump 3.74% Following JP Morgan's Target Upgrade
On Tuesday midday, BNP Paribas recorded one of the highest gains in the CAC 40, climbing 3.74% to 88.52 euros. This surge follows a challenging week, with a nearly 4% decline over seven days. A new recommendation from JP Morgan has fueled buying momentum in the banking stock.
JP Morgan Raises Price Target on BNP Paribas
On Tuesday, American bank JP Morgan raised its price target on BNP Paribas from 105 to 106 euros, while maintaining an 'overweight' recommendation. This upward revision accompanies a strong recovery session in European markets: the CAC 40 is up 2.31% during the session, while the DAX has gained 2.22%. The Nikkei 225 closed up 2.88% and the Hang Seng up 2.17%, signaling a global rebound movement this Tuesday. In this context, BNP Paribas maintains solid performance over three months, up 14.16%, and shows a gain of 15.61% over one year.
Technical Rebound for BNP Paribas
Technically, BNP Paribas' stock has rebounded from the support level at 85.33 euros, which was exactly the previous day's closing level and was very close to the lower Bollinger Band (85.24 euros). This technical rebound brings the stock close to its 50-day moving average, currently at 88.76 euros. The recovery occurs as the RSI had dropped to 34, a level close to the oversold zone, indicating a recent bearish excess. It is worth noting that monthly volatility remains contained at 8.58%, but the VIX, a market nervousness indicator, showed a high level of 29.49 points in its last reading on March 6, up more than 24% in one session. The first quarter 2026 results, expected on April 30, will be the next major event for the stock.
