Carrefour Stock Climbs 3.5% and Reaches Back to Its 50-Day Moving Average

RBC Capital Upgrades to Outperform, Sets Target at €22

Carrefour stock is up 3.58% at €16.49 during the session, placing it among the highest gains in the CAC 40, which itself is up by 0.43%. This movement follows an upgrade by RBC Capital to 'outperform' with a price target set at €22. Relative to the current price, this target represents a theoretical potential of about 33%. According to the consensus of analysts surveyed, the stock is trading at approximately 9.5 times the earnings expected for the current fiscal year. The stock thus resumes its upward momentum after the declines at the end of June, following the announcement on July 1st of the completion of the divestiture of its Romanian operations, accompanied by the payment of an exceptional dividend of €150 million.

Stock Reaches Back to Its 50-Day Moving Average After a 3.5% Rebound

Technically, the rebound brings the price back to its 50-day moving average at €16.51, a benchmark that had been lost mid-June during the downturn following doubts expressed by JP Morgan. The stock is now significantly above its 200-day moving average (€14.85), with a gap of 11%, confirming the underlying bullish trend visible in the performance over a year (+34.28%). The RSI at 45 remains in the neutral zone, with no signs of excess at this stage, while the resistance identified at €16.73 is the next chartist reference, less than 1.5% from the price. A breakthrough would pave the way for a test of recent highs.