Exail Technologies Stock Climbs 3.5% Targeting Safran's Offer Price
The French specialist in underwater robotics and navigation systems continues its rise mid-session, following the announcement of exclusive talks with Safran. The stock price is mechanically converging towards the proposed acquisition price for the family block. Portzamparc adjusted its target soon after.
The stock converges towards the acquisition price of €128.50 proposed by Safran
Exail Technologies' stock gains 3.6% to €120.90 during the session, following the June 28 announcement about the exclusive discussions opened by Safran with the Gorgé family. The stock ranks among the strongest gains in the SBF 120, while the broader index declines by 0.39%. The plan includes a purchase of the control block at €128.50 per share, followed by a mandatory public offer for the remaining capital. At €120.90, the price remains below the proposed price, the gap reflecting the lack of guaranteed completion stated in the announcement. Following this, Portzamparc raised its price target from €115 to €128.50, aligning with the offer price, and changed its recommendation to 'hold'. The stock thus recovers part of the decline accumulated over the month, which still stands at -18.01%.
A move that reshuffles the cards after the ICG shock and short-seller pressure
The rebound occurs in a calmed technical context, with the price moving back above the MM20 (€115.32) and MM50 (€119.13), and an RSI at 52 reflecting the rebalancing of buying flow. The distance from the MM200 at €106.33 shows the strength of the medium-term trend despite the June correction. This sequence follows the shock triggered in early June by the disclosed divergences with ICG on refinancing to be completed before the end of the fiscal year, estimated at €380 million. According to reviewed statements, six funds have a net short position of 5.79% of the capital, down 0.82 points over thirty days. This level remains high and signals institutional investors positioned for a downturn, but the gradual decline over a month suggests a start of coverage, in a case where the Safran project now reshuffles the cards. The valuation, which trades at about 33.2 times the earnings expected next year according to the consensus of surveyed analysts, already incorporates a substantial premium. Over the week, the increase reaches 11.63%, and the next milestone followed remains the offer price at €128.50.
