Mercialys Stock Approaches €10, Oversold with RSI at 26
The shopping center real estate investment trust faces renewed pressure this Friday, amid a backdrop of rising bond yields that is weighing on all listed real estate equities. The decline is part of a downtrend initiated several weeks ago, as AlphaValue has just upgraded its rating on the stock.
A Decline That Extends a Quarterly Slide Under Rate Pressure
Mercialys is down 1.95% to €10.04 during the session, bringing its decline to 11.46% over one month and 14.19% over three months. The stock is trading significantly below its three moving averages: the 20-day MA at €10.72 represents a gap of 6.34%, while the 50-day MA at €11.32 widens the gap to over 11%. This configuration illustrates a long-standing downtrend, with the price failing to approach these averages for several weeks. The SBF 120, meanwhile, remains virtually stable during the session, placing Mercialys near the bottom of the index ranking.
On the macroeconomic front, the rise in bond yields in the eurozone (solid US PMI, poorly received Treasury auction pushing the five-year yield above 5%) intensifies pressure on real estate trusts, whose valuations are mechanically sensitive to the cost of capital. The RSI at 26 signals a pronounced oversold configuration, close to levels reached in mid-September. The stock had touched an extreme oversold RSI at that trough, according to data published at the time.
AlphaValue Upgrades to Buy with a €13.80 Target, Representing Upside Potential of Over 37%
This Friday, AlphaValue upgraded its rating on Mercialys from "accumulate" to "buy", with a price target set at €13.80. Compared to the current price of €10.04, this represents an upside potential of over 37%. This positive rating comes as the first-half 2026 results (published on July 28, 2026) led management to raise its annual recurring net income and dividend targets, supported notably by a positive rental reversion of +2.3% that offset the near-zero indexation of rents at +0.1%.
Valuation remains modest: according to the consensus of surveyed analysts, the stock trades at approximately 7.6 times the expected earnings for the current fiscal year. The resistance level at €11.60 represents the first level to reclaim in order to initiate a technical turnaround, while the support now slides below the current price following the breach of €10.24 during the session.
