Amundi Stock Hits Record at €90 Before Pausing
The asset manager reached a new all-time high early in the session before losing ground in a generally positive Parisian market. The stock is taking a breather after soaring for several weeks, as major brokerage houses have just adjusted their targets.
New Intraday Record at €90.05 Before a Slight Retreat During the Session
Amundi's stock reached €90.05 during the session, a historic high surpassing the previous record of €89.90 set the day before. By midday, the stock had retreated by 0.28% to €89.20, while the CAC 40 was up 0.48% and the SBF 120 up 0.42%. Today's movement remains modest after a stock performance showing an 8.12% increase over the week and more than 20% over three months. The stock is significantly above its 20-day moving average (MM20) of €83.76 and its 50-day moving average (MM50) of €83.91, with a gap exceeding 6% in both cases, while the RSI reaches 70, a threshold indicating entry into the overbought zone following this acceleration. The resistance at €89.45, coinciding with the previous peak, was exceeded at the start of the session, although the stock did not manage to maintain it.
Morgan Stanley and Citi Align Their Targets with Achieved Levels
Two brokerage houses raised their price targets on the eve of the record. Morgan Stanley increased its target from €86.20 to €90.00 and confirms a 'market-weight' opinion. Citi, on the other hand, raised its target from €81.00 to €89.00 with a neutral opinion. These two targets are now almost at the current price level, which according to these analysts leaves limited upside potential. The asset manager continues its development in Asia, where it aims to achieve €150 billion in net inflows between 2025 and 2028, according to the regional strategy presented at the end of June. The next technical milestone remains the symbolic €90 mark, which was brushed this morning without consolidation.
