Atos Group share records 2nd consecutive rebound, +11% in one week
The IT services group extends its rebound following the publication of its third quarter results. It ranks at the top of a declining Paris exchange, with two brokers updating their opinion on Thursday.
A gain of 1.7% bringing the weekly rebound to over 11% in a declining market
Atos Group share gains 1.68% to €24.26 at mid-session, while the SBF 120 declines 0.72% and the CAC 40 falls 0.8%. It ranks among the strongest gains in the index and displays +11.3% over seven days, but remains at -15.4% over three months. This recovery extends Wednesday's gains, when the security broke through its resistance following the publication of third quarter revenue, published on October 21: €1,642 million, down organically by 2.4% against -5.8% in the second quarter.
The group also generated cash for the first time since the launch of the Genesis plan, and confirmed its annual targets. Regarding short positions, reviewed statements record four funds totaling 3.78% of capital, up 0.67 percentage points in thirty days. This is a high level, but its progression remains measured: it signals institutional investors still positioned downward, without allowing us to infer their motivations.
A price back above its 20-day moving average, but still below its longer-term averages
The security sits above its 20-day moving average (€22.22, gap of 9.18%) after regaining the upper hand on the short term. It remains below its 50-day moving average (€24.79, gap of 2.14%) and well below its 200-day moving average (€35.20), which leaves the underlying trend oriented downward. Regarding analyst opinions, the opinion changes of October 22 diverge. Invest Securities is a buy with a €58 target, more than twice the current price.
Bernstein raises its target from €35 to €36, but remains at underperform. Even enhanced, this target is nearly 48% above the current price. Today's rebound occurs in a market penalized by a 10-year OAT at 5.13%, at the highest level of the series since 2004. Support at €20.38 and resistance at €26 bound the trading range.
