Teleperformance Tops the SBF 120 as Shares Rebound Despite an 11% Weekly Drop
The customer relations specialist posts the best performance on the Paris index at mid-session, while the broader market remains hesitant. The stock extends the rebound that followed the correction after its quarterly results release, against a backdrop of a downgrade by a major broker the previous day.
A Rebound to €72 Leaves the Stock Below Its Short-Term Averages
The Teleperformance share gains 1.55% to €72.00 intraday, placing it at the top of the SBF 120, roughly flat at the moment. The day's rise recovers only a small part of the weekly decline of 10.9%, which stemmed from the publication on November 5.
The group reported third-quarter revenue of €2,532 million, down 1.2% on a like-for-like basis, with a lowered annual revenue target.
In its nine-month results, the company cited the continued decline of its Trust & Safety services among its risks. It also pointed to double-digit growth in its AI-augmented solutions.
The share price remains 6.2% below its MM20 (20-period moving average), at €76.79, and 1.8% below its MM50 (50-period moving average), at €73.29, while it stays 16.4% above its MM200 (200-period moving average), at €61.85. This configuration describes a stock that has lost its short-term averages but retains a comfortable margin over its long-term trend.
Morgan Stanley Cuts Its Target from €61 to €55 and Moves to Underweight
On Thursday, November 12, Morgan Stanley downgraded its rating from equal-weight to underweight and lowered its price target from €61 to €55, a level about 24% below the current price. The day's rebound therefore runs counter to this opinion, published the previous day.
In terms of valuation, the stock trades at around 5.5 times earnings for the current fiscal year and 5.3 times those of the following year, according to the consensus of the analysts covering it, which anticipates earnings per share growth of 3.8%.
Net short positions account for 5.56% of the share capital, spread across six funds, according to the disclosures reviewed. They have fallen by 0.55 points over thirty days, after 6.11% one month earlier: selling pressure remains high, but it is no longer increasing.
On the technical side, support at €67.44 and resistance at €82.22 frame the trading range, with the price currently at €72.00.
