Eurofins Stock Climbs 2.5% and Ranks Among Top Performers in the CAC 40
The Luxembourg-based bioanalytical testing specialist marks another session of gains in Paris. The stock continues the momentum started the previous day and ranks among the top performances of the CAC 40, which ends with a moderate increase. The movement comes following a reiterated bearish outlook by a major American broker.
The stock ranks among the top performances of the CAC 40 at close
Eurofins Scient. stock gained 2.73% to €67.02, up from €65.24 the previous day. The stock is among the highest risers in the CAC 40, which closed at 8,385.49 points (+0.54%). The increase follows the rebound that began on Tuesday, already reported in a brief from the previous day.
Over the week, the stock has gained 6.86%, and nearly 10.3% over three months, following the April quarterly results which were initially poorly received and had weighed on the price. The SBF 120, meanwhile, ends at 6,330.10 points (+0.42%), while the VIX recedes to 18.38, indicating a relaxation in volatility on the American markets.
The rebound consolidates the exit from the low zone, despite the bearish view from BofA
The price now clearly stands above its three moving averages, with a gap of 5.73% over the MM20 (€63.39) and 6.98% over the MM50 (€62.65). The RSI at 59 remains in the neutral zone, without any overbought signal, which leaves room before the resistance identified at €73.12. This configuration contrasts with the opinion of BofA Securities, which on June 22 maintained its 'sell' recommendation while slightly raising its target from €56 to €58, representing a potential downside of about 13% from the current price. The next technical milestone is at the €73 level, which limits the short-term bullish momentum.
