Derichebourg Shares Pause After a Year-Long Rally of Over 70%
The metal recycler's stock is marking time mid-session, after several weeks of strong gains. The movement comes as the Parisian market remains well-oriented. However, a new analyst recommendation continues to support the stock.
The Stock Retracts to Below €10 After Soaring More Than 71% Over a Year
Derichebourg's stock is down 1.97% at €9.96, compared to €10.16 the previous day. The decline occurs as the SBF 120 is up 0.40% and the CAC 40 gains 0.39% in session. Year-over-year, the stock still holds a spectacular lead of 71.58%, and 14.29% for the quarter. The stock remains above its 20-day moving average at €9.85 (+1.12%) and well above its 200-day moving average at €7.43 (+34.05%), indicating that the underlying trend remains bullish despite today's pause. The RSI at 60 indicates a still positive momentum, without excess. This pause follows a sequence rich in catalysts: the publication of the semi-annual accounts on May 29, with a current EBITDA up 9.7% at €177.8 million, had propelled the stock to a peak not seen since 2022.
TP Icap Midcap Raises Target to €11 and Upgrades to Buy
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The stock continues to be supported by analysts. On June 3, TP Icap Midcap raised its price target from €10.50 to €11.00 and upgraded the stock to buy. The new target offers a potential of about 10.4% relative to the current price. Based on the expected earnings per share, the stock is priced at about 10 times the earnings for the current fiscal year and 8.4 times those of the next fiscal year, according to the consensus of analysts surveyed. The session is part of a consolidation movement after the May rally, without questioning the technical setup: the support at €9.05 remains distant, and the immediate resistance to overcome to restart the momentum is at €10.49. The planned integration of German company Scholz Recycling remains, in the longer term, the next strategic milestone for the group.
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