Air Liquide stock falls below the 173.40 € level, despite two raised targets
The industrial and medical gases group is declining in trading, in a retreating CAC 40. Analyst opinions published over the past two days are nonetheless favorable. The stock also maintains a solid cushion above its moving averages.
A decline below the 173.40 € resistance level, above its moving averages
Air Liquide loses 1.08% to 171.52 €, compared to 173.40 € the previous day, a level that corresponds to its resistance. The stock thus falls back below this threshold after reaching it, while the CAC 40 yields 0.65%. It ranks in the middle of the index, far from the steepest declines led by Legrand, STMicroelectronics and Schneider Electric. This decline does not call into question the underlying trend.
The price remains above the 20-day MA (+1.21%) and the 50-day MA (+1.60%), and exceeds the 200-day MA by 4.83%. With a gain of 5.12% over one month and 1.67% over seven days, today's movement looks like a breathing spell. The RSI at 61 signals sustained momentum, without excess.
Bernstein and Redburn raise their price targets to 193 € and 198 €
Two brokerage firms have revised their price targets on the stock. Bernstein raised it from 192 € to 193 € today, with an outperform rating. Rothschild & Co Redburn had raised it yesterday from 185 € to 198 €, maintaining its buy rating. These two targets are respectively 12.5% and 15.4% above the current price.
These revisions follow the Beyond strategic plan presented on October 5. It provides for more than 40 billion euros of capital allocated by 2030 and a share buyback program of 4 billion euros, the first of its kind for the group. The group also completed on October 6 a multi-tranche bond issuance of 2 billion euros, at an average rate below 4%.
