Rémy Cointreau's Stock Rises Over 7% This Week, Breaking a Key Resistance
The cognac group's stock continues its upward trend at the Paris Stock Exchange by midday, in a Parisian market distinctly on the rise. The stock consolidates the gains accumulated since the annual accounts were published in early June, while a broker has slightly revised its target this week.
The Stock Moves Away from Its Moving Averages and Confirms Recent Momentum
Rémy Cointreau's stock is up 2.6% at €44.20 during the session, bringing its weekly gain to 7.4% and its three-month increase to 19%. The price is now above its three moving averages: it exceeds the MM20 (€40.71) by 8.6%, the MM50 (€40.16) by 10%, and the MM200 (€41.68) by 6%, a favorable configuration for the medium term. The RSI at 61 remains in a neutral zone, without an overbought signal despite the rising sequence. At the same time, the stock is breaking through the resistance at €43.84 identified by technical data, extending the momentum that began after the RC Forward transformation plan revealed during the annual results publication on June 4.
Revision by AlphaValue and Short Positions Still Present in the Capital
Regarding analyst opinions, AlphaValue adjusted its price target from €49.10 to €46.80 on June 10, while maintaining a 'accumulate' rating. The new target offers a potential upside of about 6% from the current price. According to reviewed statements, five funds maintain a combined net short position of 5.40% of the capital, a decline of 0.57 points over thirty days. This level remains high and reflects a bearish exposure still present among institutional investors, even though the trend in recent weeks suggests a beginning of covering positions. This balance is worth monitoring without overinterpreting, as the situation in the sector of exporting spirit producers remains fragile (cognac exports fell by 10.9% in value in the 2024 report according to FEVS). The next step will be the concrete implementation of the RC Forward plan in the upcoming activity reports.
