Rémy Cointreau Stock: +3% Midday, +16% Over the Week
The Cognac group's stock continues its rally on the Paris Stock Exchange at midday, among the top gainers of the SBF 120.
Stock Crosses a Watched Technical Threshold and Climbs Above All Its Moving Averages
Rémy Cointreau's stock gains 3% to €43.98, after breaking the resistance at €42.70 during the session. The stock remains above this level, around €44.04 at its highs, marking a 16.41% increase over the week.
The price now moves above its three moving averages, with a gap of 9.62% from the MM20 (€40.12) and 5.11% from the MM200 (€41.84). The RSI at 62 indicates the bullish momentum without yet signaling overbought.
Over three months, the stock shows a gain of 15.07%, mitigating the annual decline to -6.43%.
UBS Raises Target to €44 and Shifts to Hold Following the Rally
Yesterday, UBS raised its price target for Rémy Cointreau from €35 to €44 and shifted from 'sell' to 'hold'. The new target aligns with the current price, following a nearly 11% surge after the release of the 2025-26 accounts.
BofA Securities also increased its target from €34 to €37 on the same day, while maintaining a 'sell' rating, highlighting the differences between firms.
According to reviewed statements, five funds cumulatively hold 5.40% of the capital sold short, a still high level but down by 0.80 points over thirty days. This easing suggests a beginning of coverage by some bearish participants, without completely erasing the underlying selling pressure.
The sector's situation remains unfavorable, with cognac exports down 10.9% in value for 2024 according to FEVS. The sustained crossing of €42.70 is a technical marker to watch for the continuation of the movement.
