Capgemini shares briefly break above €127.65 intraday before retreating
The IT services group tested a technical threshold monitored for several weeks before pulling back. Two brokerage firms raised their price targets during the morning session, as the CAC 40 advances.
A brief break above resistance, with the share price well above its moving averages
Capgemini shares briefly exceeded their €127.65 resistance level intraday, reaching a high of €128.45, before falling back below it. The stock ultimately declined 0.16% to €127.45, while the CAC 40 gained 0.49%.
The share price remains well above its MM20 (+5.66%) and MM50 (+13.68%) moving averages, extending a rebound of 13.69% over one month and 24.34% over three months.
The RSI at 68 is approaching the overbought zone following this rise, and the macroeconomic backdrop is not neutral: the French 10-year OAT was quoted at 4.93% on 30 October, 20 basis points below its 22 October peak, while Fitch has lowered the outlook on France's credit rating.
Oddo BHF and Morgan Stanley revise their price targets after the third quarter
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Oddo BHF raised its price target from €147 to €161 with an outperform rating, implying a potential upside of 26% relative to the share price.
Morgan Stanley moved its target from €117 to €119 with an equal-weight rating, a level 6.6% below the current share price. These revisions follow the publication of third-quarter revenue, up 11.7% on 30 October, with a raised 2026 target. The two targets frame the analyst consensus, which remains divided on valuation after a rebound of this magnitude.
The stock trades at approximately 9.9 times current-year earnings, according to the consensus recorded. A €600 million share buyback programme, announced on 6 October, was about 36% executed as of 27 October.
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Context
Period
Period: T3 2026
Key reported figures
Revenue: 6 073 millions d'euros
Quarterly revenue: 6 073 millions d'euros
Revenue growth: 12,6 %
Guidance from the release
« Forts de ce trimestre, nous relevons notre objectif de croissance du chiffre d'affaires pour 2026, désormais compris entre +9,0 % et +9,5 % à taux de change constants, tout en confirmant nos objectifs de marge opérationnelle et de free cash flow organique. »
Opportunities identified
Demande croissante pour la transformation des entreprises par l'IA agentique
Modernisation de l'infrastructure technologique et déploiement du nouveau stack technologique
Opportunités dans le secteur de la défense et autour des enjeux de souveraineté
Outlook / guidance
Expected revenue: 24 543 millions d'euros
Management commentary: « Pour l'exercice 2026, le Groupe vise désormais les objectifs financiers suivants : Une croissance à taux de change constants du chiffre d'affaires de +9,0 % à +9,5 % (contre précédemment de l'ordre de +8,5 % à +9,0 %). »
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
