Leading the CAC 40, STMicroelectronics shares rebound after -13.5% in one week
The semiconductor manufacturer reverses the previous trend and takes first place in the Paris index, in a market oriented upward. The rebound occurs as its European counterparts in the sector also progress significantly.
A rebound at the top of the CAC 40 after a week of decline
A rebound of 2.57% to €44.96 places STMicroelectronics at the top of the index, while the CAC 40 gains 0.53% mid-morning. The share recovers after Tuesday's session when it was among the index's biggest losers, and after falling 13.5% in one week. It thus remains significantly below its recent highs. The price is below the 20-day moving average (€46.40) and below the 50-day moving average (€45.49), but above the 200-day moving average (€42.65), representing a 5.4% premium above the latter.
The RSI at 42 remains neutral. Comparable sector peers are following the same trend: ASML is up 3.31% and ASM International up 3.46% in Amsterdam trading. On Wall Street Tuesday, Nvidia (+0.97%) and AMD (+1.9%) gained ground, while Micron (-3.62%) and Lam Research (-2.73%) declined.
Oddo BHF lowers its price target while maintaining outperform rating
Oddo BHF lowered its price target from €72 to €70 on October 13, while maintaining its outperform rating. This target leaves the share with an upside potential of approximately 56% compared to the current price. On the governance front, the group announced on October 13 that its Supervisory Board wished to extend Jean-Marc Chéry by one year, with a shareholder vote at the 2027 general meeting.
On valuation, the share trades at approximately 37 times current fiscal year earnings and 19.5 times next fiscal year earnings, according to analyst consensus surveyed. The analyst consensus remains the benchmark to follow for this value. On the technical side, support is at €41.74 and resistance at €52.
