Rexel stock among the top performers of the SBF 120

CIC Market Solutions upgrades to buy and raises its target price from 34 to 44 euros

CIC Market Solutions revised its stance on Rexel on Monday, September 28: the bank upgraded from a "hold" rating to a "buy" rating and raised its price target from 34 to 44 euros. From the current price of 36.30 euros, this target represents an upside potential of approximately 21%. This upgrade of analysts' ratings comes after Rexel announced a capital increase of approximately 500 million euros with elimination of shareholders' preferential subscription rights, likely intended to finance the acquisition of American GCG for 1.4 billion dollars, announced on Friday, September 25.

The market had initially penalized the transaction on Monday, with Rexel among the most abandoned stocks of the SBF 120. The positive reading provided today by CIC Market Solutions reverses the trend and allows the stock to gain 3.42% during the session, at 36.30 euros.

Rexel at the contact of its 20-day MA, between validated support and 37.95 euro resistance

From a technical perspective, this morning's rebound brings the stock exactly to the contact of its 20-day moving average, set at 36.30 euros. This level acts as a pivot: below it last week under selling pressure, the price now returns there from below, making it a first decisive test for the nascent upward momentum. The 50-day MA, at 36.57 euros, remains slightly above, just 0.74% away from the current price, constituting the next zone to break through.

The main resistance is located at 37.95 euros, which has already been tested unsuccessfully several times in recent weeks. The RSI at 41 remains in neutral territory, which leaves room before reaching an overbought zone. Furthermore, during the semi-annual publication on July 27, 2026, Rexel had raised its 2026 targets and reported an order book in progression, despite net financial debt rising to 3,322 million euros, a risk that the ongoing capital increase aims partly to mitigate.