JCDecaux Shares Bounce 2% to €18.81 Ahead of General Meeting
The stock of the global outdoor communication specialist has risen by 2.01% to €18.81 in mid-afternoon trading, while the SBF 120 index has fallen by 0.68% during the session. The stock is among the top three gainers of the broader index, five days ahead of the annual general meeting scheduled for May 13. JCDecaux thus recovers some of the ground lost since the quarterly earnings release.
Technical Rebound After Support Break
The stock has moved back above the lower boundary of the Bollinger Bands set at €18.10, after testing the €18.44 support earlier in the week. The May 6 session closed with a break of this technical level at the opening, following the release of the quarterly revenue figures. Today's rebound brings the price back to the 50-day moving average, located at €18.63. The RSI at 42 remains in the neutral zone, without a clear reversal signal. The 200-day moving average at €16.24 reinforces the underlying bullish trend, with a gain of 28.48% over the past twelve months. The next technical level identified is the resistance at €20.20.
Goldman Sachs Adjusts Target as AGM Nears
Goldman Sachs adjusted its price target on May 6, lowering it from €21.00 to €20.70, while maintaining a neutral stance on the stock. The new target implies a theoretical upside of about 10% from the current price. This revision followed the release of the first quarter revenue, which showed an organic growth of 5.7% to €880.6 million, driven by Digital Out-of-Home (+13.1%). Concurrently, the group revised its expectations for the second quarter, anticipating organic growth of only 3%, due to geopolitical uncertainties in the Middle East.
