bioMérieux shares break through their €94.75 resistance level and gain nearly 3%
The in vitro diagnostics manufacturer extends a spectacular rebound following the release of its third-quarter sales. Two brokers raised their price targets this morning, in a Paris market clearly trending higher.
A technical threshold broken, which becomes the stock's new support
The stock gains 2.74% to €97.35 and intraday surpassed its former resistance of bioMérieux at €94.75, a level that now serves as support. This breakout also marks a high over 150 sessions.
The momentum is not new: the share price has risen 8.71% over one week and 26.84% over one month, so that the RSI reaches 83, a overbought configuration.
The share price is 21.26% above its 50-day moving average (MM50), which measures the extent of the rebound since the end of summer. The move occurs in a session where the CAC 40 gains 2.18% and the SBF 120 gains 2.07%, with the stock up 2.74%, slightly above the index.
Two target price increases and sales up 8.1% in the third quarter
Third-quarter sales, published on November 3, reached €1,042 million, up 8.1% at constant currency and scope, above what analysts had expected. The group confirmed its 2026 targets.
Today, Piper Sandler raised its target from €80 to €100 while maintaining a neutral rating, while Morgan Stanley raised its target from €71 to €75 with an underweight rating. The first target implies roughly 3% upside from the current price, while the second implies roughly 23% downside. For analyst opinions, the next resistance level to watch in the data is at €114.80.
