Sanofi shares break through their €79.74 resistance before retreating
The pharmaceutical company is trying to extend its October rebound in a CAC 40 that is rising. The stock briefly moved above a level it has been monitoring for several sessions, before losing it. It ranks near the bottom of the index as Barclays has just raised its price target.
Resistance at €79.74 broken then lost, against a backdrop of weekly gains
Sanofi shares are down 0.15% at €79.62 intraday, while the CAC 40 is up 0.49%.
The stock had nevertheless broken through its €79.74 resistance during the morning session, reaching an intraday high of €80.04, before falling back below it. This intraday pullback follows a 7.42% gain over seven days, and the share price remains above its three moving averages: the MA20 at €73.56 (a gap of 8.24%), the MA50 at €74.17 and the MA200 at €76.65.
The RSI at 71 signals an overbought configuration, which sheds light on this hesitation at the resistance level. The stock had continued its rebound on October 29, and it has gained nearly 9% over one month.
Barclays raises its target to €90 after well-oriented third-quarter results
On November 1, Barclays raised its price target from €83 to €90, implying a potential of 13% versus the day's price, with a market-weight rating. This revision follows the publication on October 30: revenue up 14.3% at constant exchange rates, earnings per share from business activities up 19.6%, and upgraded 2026 targets.
According to the consensus of the analysts surveyed, the stock trades at around 9.3 times expected earnings for the current fiscal year, with EPS growth of 5.7% from one fiscal year to the next. Over one year, the stock is still down 9.11%, and the €79.74 resistance remains the level to reclaim at the close.
