Carrefour Stock Falls 2% Despite Price Target Increase by Citi to 19 Euros

Current Trading Status of Carrefour

Carrefour shares are trading at 16.48 euros mid-morning, down 1.93% from the previous closing price of 16.80 euros. This decline follows the announcement on Tuesday, April 22, of the first quarter 2026 revenue. On the same day, Citi raised its price target from 18 to 19 euros, while maintaining a buy recommendation. This new target represents an approximate 15% upside potential from the current price. The downward movement can be seen as a technical correction after a very strong performance in recent months: the stock has gained 19.17% over three months and nearly 23% over a year. The resistance identified at 16.80 euros, exactly matching the previous day's closing level, was not breached this Thursday, suggesting a short-term plateau.

Technical Analysis of Carrefour's Stock

Graphically, Carrefour's stock price is in the upper part of its Bollinger Bands (upper boundary at 17.23 euros, lower boundary at 15.14 euros), positioned at 64% of the total amplitude. This situation reflects a valuation that is already advanced relative to recent dynamics, without indicating overbuying. The RSI, at 67, supports this interpretation: the stock is approaching the bullish tension zone (usually set at 70) without having reached it. However, the moving averages remain favorably oriented: the price is above the MM50 (15.75 euros) and well beyond the MM200 (13.78 euros), indicating a bullish underlying trend on intermediate and long horizons. The next financial milestone is set for July 23, the date of the publication of the 2026 half-year results. Until then, the support threshold at 15.01 euros represents the first major technical level in case of a more pronounced correction.