Largest CAC 40 declines: Safran stock falls 2%, UBS reduces its target
The aerospace and defense engine manufacturer is declining during trading, in a CAC 40 that is also trending downward. UBS's opinion, adjusted this Wednesday, adds to a month in which the stock has lost ground against its short-term moving averages.
A decline that brings the stock closer to its support at 321.60 €
The Safran stock is down 2.03% to 322.70 €, placing it among the largest declines in the CAC 40 while the index falls 1.05%. The stock is less than 0.4% away from its support level at 321.60 €, a level that the price has not yet broken through. It remains below its MA20 (difference of 2.07%) and its MA50 (difference of 5.13%), but above its MA200, at 317.25 €, or 1.72% below the current price. Over the week, the loss reaches 3.7%, and it stands at 9.63% over three months, far from the rebound that began in late September.
UBS lowers its price target from 370 € to 350 €
UBS reduced its price target from 370 € to 350 € on Wednesday, while maintaining a neutral opinion on the stock. The new target leaves potential of approximately 8.5% compared to today's price. Safran Reosc, a subsidiary of the group, also indicated on October 6 that the completion of the 931 segments of the primary mirror of the Extremely Large Telescope should end in late 2026 in Poitiers, for the ESO. This announcement on the ELT mirror did not prevent today's decline. The group also launched a 375 million euro buyback program on September 18, executed at approximately 39% as of October 5.
