Carrefour Up by 1.2% on Thursday Following Citi's Adjustment
Carrefour sees a 1.2% increase this Thursday after Citi lowered its price target to 18 euros while maintaining its buy recommendation. The retailer continues its integration into Google's Universal Commerce Protocol for agent-based commerce.
Market Performance and Technical Analysis
Carrefour's stock closed this Thursday, January 15, at 13.9650 euros, marking a 1.2% increase from the previous day's close of 13.80 euros, amid a backdrop of Citi revising its price target down to 18 euros from 19 euros, yet maintaining its buy recommendation. Today's trading accounted for 0.31% of the capital, a level higher than observed in previous sessions. This positive session follows a challenging week with a 2.55% decline over seven days, yet the stock maintains solid gains over three months with a 7.42% increase and over a year with a 1.65% rise. Technically, the stock is trading above its 50-day moving average at 13.65 euros and its 200-day moving average at 13.11 euros, indicating a well-established upward trend. The relative strength index stands at 34, signaling a zone close to overselling without reaching the critical threshold of 30, which could attract short-term buyers. The price is now away from the technical support at 13.43 euros and below the resistance at 14.41 euros, which is the next bullish target if the rebound continues.
Strategic Integration and International Expansion
Carrefour announced on January 11 its integration into Google's Universal Commerce Protocol, an open standard designed to streamline online purchases through agent-based artificial intelligence. This integration will allow customers to make purchases directly from Google Search and the Gemini app, marking a strategic step in the group's digital transformation. The retailer has already deployed the AI agent Hopla+ within its own app to simplify basket creation, and now takes a further step by natively integrating into Google's digital environments. This announcement comes amid sustained international expansion, with the group signing a franchise partnership in Ethiopia with Queens Supermarket at the beginning of January, aiming for an additional 17 stores by 2028. Regarding recommendations, Alphavalue lowered its advice from buy to accumulate on December 8, while JP Morgan maintains an underweight recommendation with a price target of 10 euros, well below the current price. Nevertheless, the stock continues to receive support from Citi, which, despite lowering its target, maintains a buy recommendation reflecting the prospects linked to digital transformation and geographical expansion of the group.
