Vicat's Stock Soars Nearly 7% and Regains Ground Above Its Moving Averages
The cement company from Isère marks a strong rebound at mid-session in an euphoric Parisian market. The stock benefits from both a buying momentum on European cyclical stocks and an analyst rating upgrade earlier this week.
A Marked Rebound That Brings the Stock Above Its Short-Term Moving Averages
Vicat's stock gains 6.73% to €63.40, up from €59.40 the previous day. The stock is among the top risers in the SBF 120, as the broader index is up by 1.67% and the CAC 40 climbs by 1.71%. The rebound comes after a challenging period, with the stock having broken its support at €59.10 last Monday. Today's movement allows the price to cross back above the MM20 (€61.18) and MM50 (€62.74), with respective gaps of +3.63% and +1.05%. The MM200, at €66.87, remains 5.19% above the current price and is the next technical hurdle. The RSI at 42 remains in the neutral zone, which leaves room before potentially reaching overbought territory. The identified resistance at €64.80 is now close.
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CIC Market Solutions upgraded its rating to 'buy' on June 10th, with a price target set at €81. This target represents a potential upside of about 28% from the current price and contrasts with Citi's target reduction to €65 at the end of May, which the market has already accounted for. Based on the consensus of analysts surveyed, the stock is trading at about 10 times the earnings of the current fiscal year and 8.9 times those of the following year, with an expected EPS growth of 12.6% from one year to the next. The annual performance remains strong at +13.62%, despite a decline of 2.16% over three months. The session occurs in a market context favorable to European cyclicals, while Brent crude falls by 5.17% to $88.29 amid perceived easing around the Iranian dossier, which eases transport and energy costs for the cement sector. A sustained crossing of the MM200 at €66.87 remains to be confirmed to validate a more marked trend reversal.
SectorImmobilier / construction · Industrie · Matériaux / matières premières · BTP / infrastructures›Ciment
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Context
Period
Period: 1S2026
Key reported figures
Revenue: 2036M€
EBITDA: 367M€
EBITDA margin: 18,0%
Net income: 133M€
Free cash flow: -36M€
1327M€
Guidance from the release
Une nouvelle fois, le Groupe livre de solides résultats, portés par des hausses de prix dans la quasi-totalité des géographies, la confirmation de la reprise des volumes aux États-Unis et la très bonne dynamique des pays émergents.
Vicat affiche une croissance organique du chiffre d'affaires de +10,8 % (+8,0 % en publié, effet de change défavorable de -69 M€) et un EBITDA en hausse de +13,6 % à périmètre et change constants, avec une marge portée à 18,0 %. La performance est tirée par l'Afrique (Sénégal, four 6), le Brésil, l'Égypte et le Kazakhstan, tandis que l'Europe reste résiliente et que les États-Unis et l'Inde reculent en rentabilité. Le cash-flow libre est négatif à -36 M€ du fait de la saisonnalité et du besoin en fonds de roulement, mais l'endettement net baisse sur un an à 1 327 M€ (leverage 1,65x). Les objectifs 2026 sont relevés.
Risks mentioned
Hausse des coûts de l'énergie devant se matérialiser davantage au second semestre
Effets de change défavorables (dollar, roupie indienne, livres turque et égyptienne)
Visibilité limitée aux États-Unis et en Inde, prix volatils et concurrence tendue
Contexte géopolitique au Moyen-Orient pouvant affecter l'activité et la logistique
Opportunities identified
Contribution en année pleine du four 6 au Sénégal améliorant les coûts de production
Hausses de prix annoncées aux États-Unis à compter de l'été
Acquisition d'Araïko renforçant les capacités en intelligence artificielle industrielle
Demande liée aux data centers dans le Sud-Est des États-Unis
Projet Catch4climate : démarrage du démonstrateur oxyfuel de seconde génération
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
