Edenred share slides 5.5%, among the steepest declines in the SBF 120
The specialist in employee benefits and dedicated payments is losing ground during trading, despite a rising Paris market. This decline comes just hours after the release of its quarterly revenue, where historical activity suffers from stricter regulations in Italy and Brazil.
A quarter brought back to -1.2% by new meal voucher rules
Operating revenue for Edenred remained stable at €667 million in the third quarter on a reported basis, but declined 1.2% on a comparable basis. New regulations governing meal vouchers in Italy and Brazil explain this decline, while intrinsic growth reached 6.6% and Mobility advanced 10.7%. The group confirmed its target of 2026 EBITDA declining 7% to 10% on a comparable basis. The market is penalizing this mix of underlying growth and reported decline: the stock ranks among the steepest falls in the SBF 120, while the index gains 0.51%.
The decline brings the share below its moving averages at €28.24 and €28.70
The share is trading at €27.60, down 5.5% from the previous day and the same over seven days. It falls below its 20-day MA (€28.24) and its 50-day MA (€28.70), which it still dominated before the release, but remains well above its 200-day MA (€22.88), which preserves most of its recovery underway since summer. The support at €26.84, defended in early October, is now approximately 3% below the current price. On the analyst side, CIC Market Solutions maintains its buy rating with a target price of €34, representing an upside potential of approximately 23% compared to today's trading level.
