Carrefour Shares Advance Midday Despite Downward Revisions

Analyst Adjustments Impact Carrefour

Carrefour has been subject to adjustments by financial analysts at the end of January. Jefferies revised its position on January 30, changing its recommendation from 'buy' to 'hold', while lowering its price target from 14.50 euros to 14 euros. This new target now implies a potential downside of 1% relative to the current stock price. A week earlier, on January 23, Goldman Sachs also made a revision, maintaining a neutral recommendation on the stock. However, the American bank reduced its target from 16 euros to 15 euros, still suggesting a potential upside of about 6%. These downward adjustments reflect increased caution from analysts a few weeks ahead of the 2025 annual results announcement, scheduled for February 17.

Technical Analysis of Carrefour Stock

From a technical perspective, the retailer's stock is currently trading above its 50-day moving average, positioned at 13.83 euros, indicating some short-term support. However, the price is approaching its resistance level at 14.41 euros, which it needs to surpass to continue its upward trajectory. The relative strength index at 38 indicates a territory of relative overselling, suggesting that the stock might have room for a technical rebound. The recent performance of the retail group remains mixed: while the stock has gained 8.35% over three months and 5.1% over a year, it has only increased by 2.09% in the last week. The low one-month volatility, at 4.45%, and an almost zero beta (-0.04) also reflect a relative independence of the stock from market movements. This atypical behavior could reflect dynamics specific to the food retail sector in an uncertain economic environment.