Valeo Shares Climb 4.4% During Session, Among Top Gainers in SBF 120
The French automotive supplier accelerates mid-session in a Parisian market distinctly trending upwards. The rebound follows the day after TP Icap Midcap raised its target, as the stock was digesting its recent rally.
The stock is priced at €14.90, confirming its medium-term momentum
Valeo's stock is up 4.41% at €14.90 mid-session, while the SBF 120 is up 1.74% and the CAC 40 up 1.78%. The stock is among the top gainers in the SBF 120, after having declined nearly 3% at the beginning of the week to digest a rally of more than 36% over three months. Today's progress is part of a broader underlying movement, with the stock posting a gain of more than 28% over a month and nearly 60% over a year.
The price is moving above its 50-day moving average at €12.13 (a gap of nearly 23%), graphically confirming a well-established upward trend. The RSI at 57 remains in a neutral zone, with no sign of overheating despite the magnitude of the rebound since spring.
TP Icap Midcap raises its target to €13, cumulative short interest has decreased by 5.48 points in a month
From the analysts' perspective, TP Icap Midcap raised its price target from €11 to €13 on June 10, maintaining a 'hold' rating. CIC Market Solutions confirmed its target at €16 the following day, also with a 'hold' rating. At €14.90, the stock is already trading above TP Icap's target and is approaching that of CIC. Based on the consensus of analysts surveyed, the stock is trading at approximately 9.2 times the earnings expected for the current fiscal year and 6.8 times those of the next fiscal year.
According to reviewed statements, six funds collectively hold 8.76% of the capital sold short as of June 10. The movement remains high, but the cumulative short interest has decreased by 5.48 points in a month (from 14.24% thirty days ago), indicating a gradual unwinding of short positions that accompanies the price recovery. In terms of news, the memorandum of understanding with Calyos on two-phase chip cooling, signed on June 9, extends the group's diversification into data centers.
