The target price (EUR 122), we have set in our last strategy on 22 July, has been reached. The configuration remains favorable for a long position.

The security is still undervalued with a P/E ratio 2014 of 9.2x (sector : 10.7x). Also, analysts continue to revise upward their earning per share estimates.

Technically, the trend is bullish in the medium and long term with upward oriented weekly moving averages. In the short term, prices are back to the EUR 115.4 support, corresponding to the 50 and 100-day moving averages. This threshold should allow the stock to bounce towards EUR 119.8, firstly.

Thus, a long position can be opened at the current price in order to reach EUR 119.8 then EUR 121.8. A stop loss must be placed below EUR 115.4.