SCOR SE shares break through resistance and hit a six-year high at €35.76

A multi-year high, just above the €35.60 resistance

The stock recorded a six-year intraday high of €35.76, compared with a previous record of €35.62 observed during the sharp sell-off linked to the COVID-19 crisis. It broke through its €35.60 resistance before slipping slightly back below it, to €35.52 at the time of writing, a gain of 0.91% on the day, while the SBF 120 rose 0.7%. This advance extends an established trend: the share price stands 11% above the 200-day moving average, and the RSI at 66 remains in the upper zone without reaching overbought territory. Over one month, the gain reaches 11.28%, which explains the widening gap with the moving averages.

KBW raises its target to €38 following third-quarter results

KBW raised its price target from €32 to €38 on November 10, with an outperform rating. This target implies potential upside of about 7% relative to the current share price.

The revision follows the publication of the third-quarter results on October 30: adjusted net income fell 4.8%, but earnings per share exceeded consensus and the solvency ratio stood at 221%.

To put the analyst ratings and valuation into perspective, based on the consensus of the analysts covered, the stock trades at approximately 7.6 times earnings for the current fiscal year. The annualized return on equity stood at 18.9% over nine months, compared with 19.9% a year earlier.