Crédit Agricole shares rebound 3.5% and move back above their MM20
The green bank regains ground in a well-oriented CAC 40, after a difficult month. The stock is among the index's strongest gainers, as banking stocks benefit from a Paris market that is rising sharply.
A rebound that brings the stock back above its MM20 at €15.33
Crédit Agricole gains 3.5% to €15.55 intraday, while the CAC 40 rises 1.51%.
The stock ranks among the index's strongest gainers. This move allows it to move back above its MM20 (€15.33, a gap of +1.43%), after a decline of nearly 8% over one month. However, it remains below its MM50 (€16.62) and MM200 (€16.90), a sign that the day's rebound is not enough to erase the trend of recent weeks.
The RSI at 42 remains neutral. The stock has been trading ex-dividend since October 13, following the detachment of an interim dividend of €0.57, and the performances cited above take this coupon into account.
In a Paris market weighed down in recent weeks by tensions over French government debt, the OAT-Bund spread stands at 1.62 points according to the latest readings, and the stock has historically moved in the opposite direction to this spread.
Price targets lowered by Morgan Stanley and BNP Paribas Wealth Management
Two revisions were published on November 2. Morgan Stanley lowered its target from €21 to €19 with an equal-weight opinion, and BNP Paribas Wealth Management cut its target from €19 to €18, maintaining its hold rating.
Based on the day's price, Morgan Stanley's target implies a potential of around 22%, while that of BNP Paribas Wealth Management implies nearly 16%.
According to the analyst consensus on record, the stock trades at about 6.8 times earnings for the current fiscal year and 6.3 times those of the following year. On the bank's news, Crédit Agricole announced on November 4 the early redemption at par of a sterling bond issue, effective November 29, 2026.
