GL Events stock shatters resistance at €28.2, driven by record quarterly results and raised guidance
The Lyon-based events group is experiencing an exceptional trading session on the Paris market. The surge follows a raise in its annual targets and a revision of analyst opinions from two brokerage houses, while the stock emerges from a three-month decline phase.
Third quarter up 44.3% and targets raised
GL Events stock gains 24.02% to €30.20 in trading, making it the strongest performer in the CAC All Shares index, while the CAC 40 advances 0.29%. The stock had gained nearly 26% over the week, but is still down nearly 3% over three months. It has broken through its resistance level at €28.2 in trading and is holding above it. The group published on October 14 revenue of €415.9 million for the third quarter, up 44.3% year-over-year.
It raised its targets and now aims for growth at constant exchange rates and scope exceeding 10% in 2026. The delivery of services for the Aichi Nagoya Asian Games drove quarterly activity. Over nine months, revenue reached €1,382.2 million, up 17.4%. Third quarter accounts detail this acceleration, following increases of 8.9% and 8.6% in the first two quarters.
Oddo BHF lowers target to €32, CIC maintains its €37 target
On the analyst side, Oddo BHF is lowering its price target from €37 to €32 with an outperform rating, representing potential upside of approximately 6% from the current price. CIC Market Solutions maintains its buy rating with an unchanged target of €37, suggesting potential upside of over 22%. Details of analyst opinions are available for this security.
In terms of technical levels, the stock is trading above the 20-day moving average (€24.90) and the 50-day moving average (€27.23), but remains below the 200-day moving average at €31.24, a gap of 3.3%. This latter average is the next level to break through, before resistance at €35.75.
