Eiffage shares clear €107.15 and once again target their resistance level
The construction and motorway concessions group accelerates sharply during the session, within a well-oriented CAC 40. The move gives fresh momentum to a stock that had remained well below its long-term averages for a long time.
A high from the past 30 sessions cleared, now acting as support
Eiffage shares gain 2.33% to €109.65 and are up 6.61% over one week, while the CAC 40 rises 1.07%.
The stock has broken above its high of the last 30 sessions at €107.15, a level that now acts as support. The stock thus ranks among the largest gainers in the index, ahead of its peers Bouygues (+1.87%) and Vinci (+1.50%).
The rebound is supported by a clear gap above the moving averages: the price is 7.9% above the MM20 and 6% above the MM50, but remains 10.92% below the MM200.
The RSI at 73 signals an overbought configuration, after an 11.07% gain over one month that has not yet erased the 11.25% decline over three months.
Third-quarter revenue expected on November 12
Eiffage will publish its third-quarter revenue on November 12. The group has already indicated, in a previous release, that its growth had accelerated, and the activity of its subsidiary APRR, with traffic down 2.9% over nine months, will also be closely watched.
In terms of valuation, according to the consensus of the analysts surveyed, the stock trades at about 9.7 times earnings for the current fiscal year and 8.9 times those of the following fiscal year, with expected earnings per share growth of 8.8%.
The next identified resistance lies at €142.70, while the support at €107.15 will be the level to watch in the coming sessions.
