Clariane shares back above their MM20 and gain 3% intraday

A rebound that brings the stock back above its MM20 after a difficult quarter

Clariane rises 3.06% to €3.30, while the SBF 120 gains 1.47%, placing it in the top half of the index. The stock moves back above its MM20, at €3.26 (a gap of 1.29%), after having broken through its support at €3.11 in early November.

The price remains below the MM50, at €3.60, and the MM200, at €3.87, so the rebound recovers only a small part of a 17.8% decline over three months. Over the week, the gain reaches 4.8%. Emeis, a sector peer, gains 2.9% intraday but has fallen 29.5% over three months.

BNP Paribas Exane lowers its target price to €4.20 while maintaining its positive rating

BNP Paribas Exane has today lowered its price target from €4.60 to €4.20, while maintaining its outperform rating. This target remains about 27% above the current share price. Details of the analyst ratings show that this adjustment follows a quarter of share price decline.

On the fundamentals, the group published on October 28 third-quarter revenue of €1,352 million, up 4.9% organically, and confirmed all of its operational and financial targets. The level of €3.99 constitutes the highest technical resistance on the stock.