BNP Paribas Share: Among CAC 40 Leaders, the Stock Advances 2.5%
The bank is recovering mid-morning, with the CAC 40 oriented upward. The rebound occurs after several weeks of pressure on the stock, while French yields remain under tension.
A Rebound That Only Partially Offsets the Monthly Decline
The BNP Paribas share gains 2.47% to €95.05, while the CAC 40 advances 0.77%. This increase places the bank among the strongest gainers in the index. It only mitigates the decline of 5.95% over one month, excluding the dividend detachment of €3.23 that occurred on September 24. The gross decline over the period is heavier, but the difference is due solely to the coupon paid to shareholders.
The price remains below its 20-day moving average (gap of 2.49%) and that of 50 days (gap of 6.57%), while maintaining a slight advantage over the 200-day MA. The support at €90.05, briefly breached during Monday's session, held before this rebound.
Alphavalue Lowers Its Target to €101 from €122 and Remains on Accumulate
In its latest work, research firm Alphavalue has reduced its price target from €122 to €101, while maintaining an accumulate rating. This target leaves a potential of approximately 6% compared to today's price. Based on the consensus of analysts surveyed, the stock trades at approximately 8.2 times current fiscal year earnings and 7.2 times those of the following fiscal year.
The context remains marked by the rise in French bond yields, with an OAT-Bund spread at 1.47 points, its highest level since January 2012. Historically, the bank's share price evolves inversely to this indicator, which reflects sovereign risk. The bank also announced on Monday new appointments at the head of Arval, its long-term vehicle leasing business.
