Carrefour shares fall a further 13.5% over one month despite a 2% rebound
The retailer is recovering in a well-oriented Paris market, after an October marked by the revision of its annual targets. The stock is seeking to regain ground, but the path back to its levels before the announcement remains long.
A rebound that leaves the stock below its three moving averages
Carrefour shares gain 1.99% to €13.86 intraday, in a CAC 40 up 1.04%. The stock is up 6.2% over the week, but still down 13.3% over one month.
The stock remains below its three moving averages: the MM20 at €14.21 is 2.5% above the price, and the MM50 at €15.42 is 10.2% above.
The RSI at 41 is neutral. The support at €13.05, close to the current price, is the nearest level in case of a new decline. The move follows a first rebound of 2.5% observed on November 4, which was not enough to erase the autumn sell-off.
The 2026 targets cut on October 21 still weigh on valuation
The autumn decline dates back to the group's decision to revise its 2026 targets downward, citing the deterioration of the social and security situation in France. The revision affects operating margin, adjusted earnings per share and free cash flow. The stock had lost up to 14.5% intraday on the day of the announcement.
Following this decline, Carrefour trades at around 8.6 times current-year earnings, according to the consensus of the analysts surveyed, with expected earnings per share growth of 11.9% next year.
On October 19, the group also signed an agreement to buy Codifrance from Colruyt, valued at €152 million. The stock trades at €13.86, 12% below its MM200 (€15.75).
