Eurofins Scientific Shares Fall 2.17% at Tuesday's Close

Eurofins Scientific shares closed the Tuesday session on January 20 at 70.36 euros, down 2.17% from the previous day's close of 71.92 euros. This correction follows an outstanding twelve-month performance, with the share price having increased by 49.48%. However, the value of the analysis laboratory specialist remains well-oriented over three months with a gain of 12.54%. Technically, the RSI shows a level of 85, indicating an overbought zone that could justify this pause. Nevertheless, the price continues to move above its 50-day (61.71 euros) and 200-day (60.86 euros) moving averages, confirming the strength of the underlying bullish trend. The proximity of the resistance threshold at 73.12 euros poses a short-term obstacle for the continuation of the movement.

The group continued its share buyback program with the acquisition of 30,000 shares between January 12 and 16 at an average price of 71.91 euros, after having bought back 70,000 shares at the beginning of January for 4.7 million euros. This strategy reflects the management's confidence in the stock's prospects. On the analyst side, Kepler Cheuvreux raised its price target to 81 euros from 72 euros previously on January 13, while Morgan Stanley raised it to 64 euros at the beginning of January. These recommendations suggest a potential upside of 15.16% for the highest target compared to the current price. Bernstein, meanwhile, maintains an outperformance recommendation with a target of 72.30 euros.