Eiffage Stock: Citi Upgrades to Buy with a Target of €155, Shares Bounce Nearly 3%
The BTP and concessions group's stock erases some of its recent decline by midday, driven by a change in opinion from a major American broker. The movement comes as the stock had significantly deviated from its moving averages in recent weeks.
Citi Raises Target to €155 and Upgrades Eiffage to Buy
Eiffage's stock is up 2.8% at €124.85, up from €121.45 the previous day. The stock is among the top gainers on the CAC 40, which is up 0.81% during the session.
Citi upgraded its recommendation from neutral to buy on May 27, 2026, with a price target increased from €125 to €155. This new target offers a potential upside of about 24% from the current price.
The rebound follows a difficult period: the stock is still down 3.37% for the week and nearly 14.7% over three months. The decline had intensified after a downgrade by Goldman Sachs on May 21. The year-to-date performance remains barely positive (+0.44%).
Stock Rebounds from Its 200-Day Moving Average at €123.29, RSI Exits Oversold Territory
Technically, today's rebound occurs at the 200-day moving average, which stands at €123.29. The price has slightly exceeded it (+1.27%), while the 20-day (€132.59) and 50-day (€134.64) moving averages remain significantly above, indicating the recent trend deterioration.
The RSI at 31 has just exited an oversold zone, which supports today's bullish movement. The €121 support held, after being tested at the beginning of the week.
On the business front, Eiffage Énergie Systèmes won a contract on May 22 for four solar power plants of 225 MWc in Morocco, as part of the NOOR Atlas program. The group also secured railway infrastructure projects for the Seine-Nord Europe canal in early May. The next milestone to watch is the €142.70 resistance, above which the short-term moving averages might be re-crossed.
