Vinci share falls 9.5% over three months, ahead of results on October 22
The concessions, energy and construction group shows moderate recovery during the session, in a rising CAC 40. The stock remains nonetheless weighed down by a difficult quarter and awaits a publication milestone.
A rebound that leaves the security below its medium-term moving averages
Vinci gains 0.51% to €108.20 in the afternoon, slightly less than the CAC 40 (+0.4%) and barely more than the SBF 120 (+0.47%). The stock is in contact with its MA20 (€108.58, gap of -0.35%), which it is attempting to recapture. It remains nonetheless significantly below its MA200 (€123.56, representing a 12.43% gap), which illustrates the extent of the downward path taken since summer: the stock has shed 9.57% over three months, following a decline of more than 15% still noted in early October. The October 6 rebound had already enabled recovery of the €105.60 support, which the price is now dominating by 2.5%. Comparable securities are following the same trend: Bouygues advances 1.20% and Eiffage 0.40% this Friday, following respective declines of 6.86% and 6.08% over one month.
Q3 on October 22 and analyst opinions with slight target downgrades
Vinci will publish its third quarter results on October 22. In advance, two firms adjusted their targets on October 14: Morgan Stanley reduced its target from €148 to €146 while maintaining a market weight rating, and Jefferies from €142 to €139 while maintaining its buy rating. Both targets remain significantly above the current price. The analyst consensus remains to be monitored as the publication approaches.
On the operational side, VINCI Energies has completed the acquisition of All for One, of which it now holds 87.33% of the capital, following the public offer launched in July. Q3 results are expected on October 22.
