Amundi share price falls nearly 6% over one month despite Goldman Sachs' positive view
The asset management company is under pressure from a declining Paris market, amid unprecedented tension over French government debt for more than a decade. Goldman Sachs nevertheless chose this Thursday to upgrade its rating on the stock to buy and raise its target price to €104, representing an upside potential of more than 17% compared to the current price.
A decline of 2.79% that erases part of last week's rebound
The Amundi share falls 2.79% to €88.80 during the session, after closing the previous day at €91.35. The decline is part of a broader movement: the SBF 120 loses 1.35% at midday, in a Paris market penalized by tension in French government bond yields, with the ten-year yield reaching 4.86%, an unprecedented level since 2008. The stock had nonetheless rebounded nearly 2% on Friday, September 25, following the correction that began in mid-September.
Over the month, the decline now reaches 5.93%, although over one year the overall performance remains strongly positive, at over 31%. The price is well below the 20-day moving average at €92.99 (a difference of 4.51%) and the 50-day moving average at €93.47 (a difference of 5%), two levels that had long served as support during the summer uptrend phase. The RSI at 45 remains in neutral territory, with no particular signal of selling exhaustion at this stage.
Goldman Sachs raises its target price to €104 and initiates coverage with a buy rating on Amundi
It is in this context of decline that Goldman Sachs published a revised view on Amundi this Thursday, upgrading to buy and raising its price target from €97 to €104. Relative to the current price, this represents an upside potential of more than 17%. The American bank previously held a target price of €97, close to the all-time high recorded in early September at €97.70 before the pullback.
This upgrade comes as Amundi acquired a 9.9% stake in ICG for €620 million in September, as part of the development of its offering in private markets. The company also has a €500 million share buyback program announced on September 18, 2026, executed at approximately 1% by the end of September. The nearest technical support level is at €90.40, already moving back above the current price, which places the stock in a correction range between this lost support level and resistance at €97.55.
