Derichebourg Shares Rise 3.08% Midday Following Oddo BHF Upgrade
Derichebourg, a specialist in recycling and environmental services, shows a solid increase this Thursday, November 20, at midday. The stock is up 3.08% at 6.02 euros, after closing at 5.84 euros the previous day. This increase occurs in a supportive market context, with the CAC 40 up 0.75% at 8,013.77 points, but especially following an upgrade in the price target by an influential analyst. However, trading volumes remain very modest, with only 0.09% of the capital traded.
Current Performance in a Favorable Technical Dynamic
Today's performance is part of a favorable technical dynamic across several time horizons. In the medium term, the stock has gained 1.86% over seven days and shows a remarkable annual progression of 19.44%, significantly outperforming the CAC 40 index, which has advanced 10.85% over the same period. However, the past quarter has been more mixed with a decline of 3.06%, reflecting the cyclical difficulties of the recycling sector. The stock is now trading above its key moving averages: the MM50 is established at 5.72 euros and the MM200 at 5.75 euros, signaling a gradual exit from the consolidation of recent weeks. Technically, the price is currently testing its resistance threshold at 6.20 euros, a level it precisely reached during the session. The upper boundary of the Bollinger Bands, also set at 6.17 euros, confirms this technical friction point. On the downside, the immediate support is at 5.68 euros. The RSI indicator is at 46 points, in neutral territory, suggesting that the bullish movement still has room before entering an overbought zone.
Recent Increase Following Oddo BHF Announcement
This rise comes two days after an announcement from Oddo BHF. The analyst raised their price target on Derichebourg from 5 to 6 euros on November 18, while reiterating a neutral opinion on the stock. Analysts report exchanges with the management, who are confident in reaching the upper range of the EBITDA forecast for the current fiscal year. This new estimate values the group at 4.8 times its 2026 EBITDA and 10.8 times its EBIT, multiples considered moderate and about 5% lower than historical ratios. Nevertheless, Oddo BHF emphasizes that the sector environment remains under pressure, both in terms of volumes and prices, with downward trends accentuated in the second half of the year. The steel industry remains sluggish and the automotive and construction sectors, which account for about 60% of the scrap activity, show no signs of recovery. This note of caution explains the maintenance of a neutral recommendation despite the target raise.
Recent Fundamentals of Derichebourg
On the side of recent fundamentals, Derichebourg had published last May semi-annual results showing strong improvement, with net income doubled to 63.2 million euros and current EBITDA up 14% at 162.1 million euros. The group also benefited from the first significant contribution from Elior Group, of which it holds 48.17% of the capital. In September 2025, the group also launched a share buyback program covering 1% of the capital, aiming to cancel the acquired shares. The low liquidity of the stock, illustrated by the 0.09% of capital traded today, reflects a limited float and a stable shareholder base, characteristic of this family-owned company.
