Brussels stock market keeps rising despite sell-off in tech shares
Published
The Brussels stock market continues to climb, while investors are selling many tech shares. This decline in technology companies is causing unrest on the markets, but the Belgian stock exchange is showing a different movement.
Analyst Frank Claassen of the stockbroker Degroof Petercam has raised the price target of a share from 84 to 90 euros. This means he expects the price to rise further in the future. He therefore advises investors once again to buy the share.
A price target is an analyst's estimate of the value a share may have in the future. Investors use such recommendations to decide whether to buy, sell or hold a share. An increase in the price target is often seen as a positive signal, but there is no certainty that the price will actually rise.
For investors in Belgium, movements on the stock market are important, because many Belgians own shares through pension funds, savings products or directly. The coming weeks will show whether the rise on the Brussels stock market holds, or whether the sale of tech shares will further affect the Belgian market.
Sources: De Tijd
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