Euronext share among the strongest gains in the CAC 40, +14% in 3 months
In a slightly declining CAC 40, Euronext stands out as an exception on Thursday. The pan-European stock exchange operator is holding its own, supported by an upward revision of the price target by Rothschild & Co Redburn published today, in a market context marked by volatility and rising rates.
An analyst opinion released today supports the stock amid a declining European market
Rothschild & Co Redburn raised its price target on Euronext on Thursday, raising it from 151 € to 157 €, while maintaining its analyst opinion at "hold". With an intraday price of 160.90 €, the share is trading above this new target, which illustrates the relative strength accumulated in recent months. The day's gain of 1.13% is nevertheless enough to rank Euronext among the strongest gains in the CAC 40, while the flagship Paris index falls 0.32% in the session. The market context is however not favorable: the VIX surges more than 12% intraday, reflecting growing concerns linked to the surge in Brent above $100 and an almost certain rate hike by the ECB during its meeting on the same day, from 2.25% to 2.50% according to money market expectations.
A share at its 20-day moving average after a quarter of strong gains
In terms of recent performance, Euronext shows a gain of more than 14% over three months, which illustrates the upward momentum that began in the summer, of which the all-time high approaching 165 € recorded on August 24 last year. Since this absolute peak, the share has declined slightly and is now trading near its 20-day moving average (161.56 €), with a negative deviation of only 0.41%. This level concentrates short-term attention: maintaining above it would preserve the upward momentum, while the 50-day MA at 155.54 € offers a cushion at around 3.4% below the current price.
The RSI at 50 reflects a neutral configuration, with no signals of excess in either direction. The support at 149.40 € represents the next reference zone in case of a broader decline, while the resistance at 165.30 € corresponds to the recent all-time high.
