Vallourec shares fall 3% but remain +20% over one year, CIC targets higher
The seamless tube manufacturer is losing ground in a declining Paris market. The pullback occurs on the same day as a CIC Market Solutions target price increase, and the stock remains below its long-term moving average.
Vallourec drops 2.93% to €18.25, below its three moving averages
The stock loses 2.93% to €18.25, while the SBF 120 retreats 0.69% and the CAC 40 falls 0.67%. Vallourec ranks among the bottom performers in the index, trailing in the SBF 120. The price is now below its 20-day MA (€18.46) as well as its 50-day MA (€18.44), with a gap of approximately 1% for each.
The 200-day MA, at €20.50, remains significantly higher: the price is 11% below, which places the 11.96% decline over three months in line with an underlying downtrend. The support level at €17.53 is located approximately 4% below the current price.
On short positions, five funds combined hold 3.47% of the capital according to disclosed filings, compared to 1.96% thirty days ago, representing an increase of 1.51 percentage points in one month. This level signals institutional investors positioned against the stock or seeking to hedge their exposure, without allowing conclusions to be drawn about their intentions.
CIC Market Solutions raises target from €28 to €31.41
CIC Market Solutions raised its price target on Vallourec today from €28 to €31.41 and maintains a buy rating. This new target is approximately 72% above the current price. The consensus of analysts remains the benchmark to monitor for this recommendation.
On the operational front, Vallourec announced on October 12 a TotalEnergies contract for over 16,000 tonnes of tubes for an offshore gas field in Azerbaijan. Brent crude, at $109.06 per barrel, is stable during the session (-0.45%). Over one year, the stock maintains a gain of nearly 20%.
