Thales stock climbs nearly 3% and dominates a struggling CAC 40
Thales stands out in a difficult session for the Paris market, buoyed by the announcement of a cloud computing contract secured from the public purchasing center Ugap. The defense and electronics group thus achieves the best performance of the CAC 40 at mid-session, while the Paris index loses ground in a market context fragilized by geopolitical tensions and the approach of a Federal Reserve decision.
A cloud contract with Ugap propels Thales to the top of the CAC 40 on Tuesday
The group Thales gains 2.82% during the session, at €236.90, after closing the previous day at €230.40. The catalyst for the day is concrete: the consortium formed by Atos, Open and Thales won two IT service contracts from Ugap, the public purchasing center, covering cloud environments and infrastructure operations for a duration of four years. With an increase of nearly 3%, Thales outpaces all forty values of the CAC 40, which declines 0.86% during the session, in a market weighed down by energy concerns and a rising geopolitical risk premium.
This outperformance stands in sharp contrast with the rest of the market, where several major technology and luxury stocks lose between 2% and 3%. CIC Market Solutions also maintains its buy rating on the stock with an unchanged price target of €305, representing an upside potential of approximately 29% compared to the current price.
Below its three moving averages, the stock remains in a fragile technical configuration
Despite today's rebound, Thales' chart configuration remains under pressure. The stock is trading at €236.90, below its 20-day MA at €243.38 (gap of -2.66%), its 50-day MA at €243.30 and its 200-day MA at €242.66, these three moving averages forming a resistance level clustered around €243. Over the past month, the stock has recorded a decline of 12.39%, which puts into perspective the magnitude of the current rebound.
The RSI at 34 signals a configuration close to oversold, which reflects the exhaustion of selling pressure in recent weeks without validating a reversal. The support at €225.10 has already been approached in early September, and the resistance to break through to escape the depressed zone remains clearly identified at €243, where the three moving averages converge.
