JCDecaux Stock Soars 5%, Reaching a Three-Year High at the Top of the SBF 120

A New Three-Year Record Takes the Stock Above Its Three Moving Averages

JCDecaux's stock rises 5.07% to €22.40, after reaching €22.48 during the session, a three-year high. The previous record was set at the beginning of 2023, in a context marked by the rapid increase in benchmark interest rates. Today's movement propels the stock to the top of the SBF 120, while the index itself is down 0.43%. Over one month, the stock now shows a gain of 19.15%, and 48.54% over one year.

The stock is significantly above its three moving averages, with a gap of 12.17% over the MM20 (€19.97) and 29.63% over the MM200 (€17.28). The RSI reaches 70, a threshold traditionally associated with overbought zones, reflecting the intensity of the bullish movement in recent weeks. The immediate support is at €21.32, a recently surpassed former resistance, while the round figure of €23 serves as the next milestone above.

JP Morgan Raises Its Price Target to €30 and Reaffirms Its Positive Outlook

JP Morgan has raised its price target for JCDecaux from €29 to €30 this Thursday, while maintaining its Overweight rating. Based on the current price of €22.40, the new target offers an appreciation potential of about 34%. The momentum follows recent announcements by the company, including the renewal of an eight-year advertising contract with Heathrow Airport, announced at the end of June.

The stock also benefits from a favorable movement within the communications sector: Publicis Groupe is up 3.99% in session on the SBF 120. Since the beginning of July, JCDecaux has been consistently gaining, after breaking through the €20 threshold. The underlying trend remains bullish, and the next technical marker is now around €23.