ID Logistics stock leads SBF 120 and surges more than 9%
The contract logistics specialist achieves the strongest session of its index, well ahead of its ranking peers. The surge occurs in a declining Paris market following a highly anticipated activity publication.
A 9.17% jump that breaks through the 338 € threshold in a declining CAC 40
The ID Logistics Group stock gains 9.17% to 369 € during the session, while the SBF 120 loses 1.42% and the CAC 40 1.46%. It is the strongest increase in the index. The stock breaks through its highest level of the last thirty sessions, at 338 €, which has become support, and places itself clearly above its three moving averages: the gap reaches 13.43% with the MA20 and 3.80% with the MA200, which the price recaptures after a volatile quarter.
The RSI at 76 signals an overbought configuration, while the next resistance is located at 383.50 €. Over a week, the gain reaches 14.24%, which brings the performance over one year to -6.58%.
Growth of 25.6% in the third quarter and an upgraded target by UBS
ID Logistics published on October 21 growth of 25.6% in its third quarter activity, which it presents as an acceleration. North America shows growth of 48.1% on a comparable basis, and nearly 80% of activity is now realized outside France. The group has launched 27 new operations since the beginning of the year, including 10 in the third quarter, and says it is focusing efforts on ramping up these sites and on end-of-year peak activity, including Black Friday.
On the analyst opinions side, UBS maintains its buy rating and raises its price target from 525 € to 535 €, representing a 45% upside potential from the current price. The resistance at 383.50 € is the next level that the stock can test.
