Accor share rebounds following two opposing analyst views
The multiband hotel group's share price is rising this Friday morning, rebounding after selling pressure recorded the day before. Two analyst opinions published early in the week are fueling renewed interest in the stock, although the share remains below its three reference moving averages.
A rebound that falls short of breaking above key moving average levels
Accor gains 2.16% to €44.96 at mid-morning, after closing at €44.01 the previous day. This rebound brings the share close to its support level at €44.01 without correcting the bulk of technical deterioration. The price remains below the 20-day MA at €45.94, the 50-day MA at €46.18 and the 200-day MA at €46.00, three levels that it has failed to break through over the past quarter.
The RSI at 37 reflects selling pressure that is eroding without yet shifting into reversal territory. The nearest resistance stands at €47.47, representing a gap of nearly 5.6% above the current price. Over three months, the share has suffered a decline of 10.9%, placing today's rebound in a context of prolonged correction rather than a trend reversal.
Two analyst opinions in two days and short positions surging significantly in one month
On the analyst views front, Morgan Stanley raised its price target from €55 to €56 this Friday while maintaining an "overweight" rating. The previous day, Barclays adjusted its target downward, from €55 to €54, while also maintaining a positive view. These two revisions in opposite directions reflect a nuanced reading of the case: relative to the current price, Morgan Stanley's target offers a theoretical upside potential of approximately 24.6%, while Barclays' stands at around 20.1%. This favorable analyst context contrasts with the dynamics of short positions.
According to filed declarations, three funds cumulatively hold 2.60% of capital sold short, up 1.10 percentage points over thirty days (compared to 1.50% a month ago). This rapid progression signals mounting underlying pressure on the stock: institutional investors are positioning themselves downward at an unusual pace, which warrants monitoring this trend without drawing definitive conclusions about the share's direction. Moreover, the session is playing out in a rising Paris market, with the CAC 40 up 1.1% during the session, against a backdrop of persistent tensions over French sovereign rates, with the 10-year OAT standing at 4.90% on October 1st, at its highest level since 2002.
