Accor stock gains 1.5% and ranks among the strongest rises in the CAC 40
The multi-brand hotel group is recovering in mid-morning trading, with the CAC 40 oriented upwards. The stock is climbing back toward two moving averages it had lost in recent weeks, while a target price increase from an investment bank remains in the recent landscape.
A rebound that brings the stock back in contact with the MA20 and below the MA50
The Accor stock gains 1.72% to €45.56 in trading, while the CAC 40 advances by 0.81%. The security ranks in the upper part of the index without being among its leaders, and gains 3.52% over the week, which mitigates part of the 5.46% decline recorded over three months. Technically, the price is in contact with the MA20 (€45.42) and remains below the MA50 (€45.98), at a 0.91% gap, as well as below the MA200 (€45.92).
The stochastic oscillator displays a neutral signal, while the RSI stands at 45. The support at €43.70 had been tested during recent decline sessions, and resistance is located at €47. The stock therefore has a few points to regain in order to move back above its two longer-term moving averages.
Barclays raises its target to €55 in a tense bond market
On October 7, Barclays raised its price target from €54 to €55, representing a potential of approximately 21% compared to the current price. The bank had already adjusted its target on October 1, as indicated by our session from the previous Thursday on the security. On the market side, the 10-year OAT is at 4.90% according to the Banque de France survey of October 8, approaching its highest level in 24 years recorded at the end of September, with a spread of 1.40 percentage points against the Bund.
The group also launched a share buyback program of €225 million on July 30, executed at approximately 24% as of October 2. The next numerical benchmark to monitor on the stock is the resistance at €47, above the MA50 and MA200.
