BNP Paribas share rebounds, with RSI in oversold territory at 29.9
The bank is recovering in mid-afternoon, within a CAC 40 showing slight gains. The security, however, remains below its moving averages following a month of sharp decline, after an analysis firm has just adjusted its target.
A rebound still limited against a month of clear decline
BNP Paribas gains 1.03% to €89.86, placing it in the top half of the CAC 40 for the session. The movement remains modest given a decline of 8.3% over one month, including dividends reinvested, and the price remains below its three moving averages: 4.3% below the 20-day MA (€93.88) and 9.5% below the 50-day MA (€99.24). The RSI at 29.9 signals an oversold configuration following this slide.
The security traded ex-dividend on September 24, following the detachment of a dividend of €3.23. Société Générale (+0.33%) and Crédit Agricole (+0.38%) are also advancing, but more modestly, after declines of 12% and 14.6% over one month.
UBS adjusts its target to €119 and maintains its buy rating
UBS lowered its price target from €120 to €119 on October 15, while maintaining its buy rating on the bank. The price target of €119 leaves potential upside of approximately 32% relative to the current price. From a valuation perspective, the security trades at approximately 7.8 times expected earnings for the current fiscal year, according to the consensus of surveyed analysts. The spread between the OAT and the Bund stands at 1.35 percentage points according to the latest readings, within a context of persistent pressure on French sovereign rates.
