Publicis Groupe stock breaks through €103.75 after two target price increases
The communications group extends its weekly momentum following the publication of its third quarter activity. The stock is now trading at levels it has not reached in several months, in a Paris market oriented upward.
A resistance level broken intraday and a week up +10%
The Publicis Groupe stock gains 1.2% to €105.00 in early afternoon. It has broken through its €103.75 resistance level intraday and is holding above it, bringing its weekly gain to 10.2%, following its third quarter results published on October 13 (organic growth of 5.0%, annual target confirmed). The RSI at 69 is approaching the overbought zone.
The price is 8.2% above its 20-day moving average and 22.1% above its 200-day moving average. The next round level stands at €110. In the CAC 40, the stock ranks among the strongest gainers, while the index advances by 0.28%.
Two target price increases published on Thursday
Two brokerage firms revised their price targets on Thursday, October 15, according to the analyst consensus consulted. Kepler Cheuvreux raises it from €110 to €115, with a buy rating, representing 9.5% upside potential compared to the current price. Huber Research Partners raises it from €106 to €110, with an overweight rating, representing approximately 5% upside potential. Analyst opinions on the stock have thus strengthened this week.
On the short side, 4 funds account for 3.09% of capital according to available disclosures, down 0.67 percentage points over one month: the bearish bet is narrowing significantly. The stock has risen more than 18% over three months, and its immediate support is the former €103.75 resistance level.
