Carrefour stock rebound leaves October target cut in focus

Carrefour stock recovered on Tuesday, November 10, but the rebound did not erase the damage from the retailer's October outlook cut. Ideal Investisseur reported a 1.99 percent intraday gain to EUR 13.86, while the share remained 13.3 percent lower over one month.

Rebound has not reversed decline

The analysis said the share was still below its 20-day, 50-day and 200-day moving averages. It also placed the nearest support at EUR 13.05 and described the relative-strength index at 41 as neutral. The stock had gained 6.2 percent over the week, according to the report.

Forecast cut remains central

The autumn decline followed Carrefour's decision on October 21 to lower its 2026 targets. The revision affected operating margin growth, adjusted earnings per share and free cash flow after the company cited worsening social and security conditions in France. The report said the stock had fallen as much as 14.5 percent intraday on the announcement.

Codifrance adds expansion angle

Carrefour also agreed on October 19 to buy Codifrance from Colruyt for EUR 152 million, according to the analysis. The transaction provides a separate strategic development as investors assess the retailer's earnings outlook and the recovery in its core market.

French equities traded against the backdrop of the CAC 40 market.

Carrefour sells food and non-food goods through supermarket operations. More news and analyses on Carrefour stock.