Soitec share breaks through its 155.50 € resistance following an upward target revision
Soitec holds firm on this Wednesday morning, September 30th, in an almost stable SBF 120, consolidating an exceptional performance of over 44% for the month. Attention today is focused on BNP Paribas Exane, which publishes a new opinion on the Isère-based semiconductor substrate manufacturer and significantly revises its target upward.
BNP Paribas Exane substantially raises its target but maintains a neutral stance on the stock
BNP Paribas Exane published on September 30th an opinion on Soitec that illustrates the dilemma this value poses for analysts: the price target increases from 120 € to 150 €, a jump of 25%, but the opinion is maintained at "neutral". With a price at 155.85 €, the stock is now trading above this new target, which reflects a significant market premium compared to the analyst's estimate. This gap is consistent with a valuation that the consensus of surveyed analysts places at approximately 46.5 times expected earnings for the following fiscal year, reflecting very high growth anticipations built into the price. The revision nevertheless illustrates the structural reassessment of the file since early September, driven by the acceleration of Photonics-SOI activity and the revision of the Q2 revenue growth forecast to approximately 50%, announced in early September.
A stock consolidating above its moving averages following the breakthrough of its resistance level
Soitec is trading at 155.85 € in the session, showing a slight gain of 0.23% compared to the previous day (155.50 €). The stock has broken above its resistance level at 155.50 € during the session and is maintaining itself there, which constitutes a continuation signal. The technical configuration remains favorable: the price is 12.4% above the 20-day MA (138.70 €) and more than 26% above the 50-day MA (123.42 €), reflecting underlying bullish momentum established since the beginning of the month.
The RSI at 64 marks a zone of positive momentum without signaling excessive overbought conditions, leaving room before approaching the upper Bollinger band. Over one year, the gain reaches nearly 307%, while the SBF 120 declines 0.05% this morning. The next significant resistance level is located at 192.20 €, approximately 23% above the current price.
