Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Stifel Europe Limited Research
  • Stifel Europe Limited Research

Discontinuing Coverage Ahead of Stifel Integration

On June 2, 2025, Stifel Financial Corporation acquired Bryan, Garnier & Co Limited and Bryan Garnier Securities, which have been rebranded to Stifel Europe Limited and Stifel Europe Securities, respectively. Today, August 22, 2025, both entities are being integrated into the Stifel research pla

Stifel Europe Limited Research
  • Stifel Europe Limited Research

Discontinuing Coverage

We are discontinuing coverage of the companies listed in the chart below. Our past recommendations on these names should no longer be relied upon.

Mahaut Arnaud ... (+3)
  • Mahaut Arnaud
  • Paul de Froment
  • Thomas Mordelle

Alfen: H1 2025 results, mid-term outlook lowered

Alfen published H1 2025 figures yesterday. Revenue came in at EUR211.5m (-13.9% YoY vs. EUR245.7m in H1 2024) mainly with challenging dynamics in EV charging and Energy Storage, while benefiting from favourable base effects in Smart Grids, which was impacted by moistening issues in Q2 2024. This wa

Damien Choplain ... (+2)
  • Damien Choplain
  • Oscar Haffen Lamm

Egetis Q2: initial Germany launch, key catalysts still ahead

Egetis has reported Q2 results, marking the first commercial sales of Emcitate in Germany following its 1st May launch, and a cash position of SEK203m, providing an est. runway into Q1 2026. While exact German sales figures remain undisclosed, SEK14.5m in total revenues (vs SEK13.9m in Q2 2024) inc

Oscar Haffen Lamm
  • Oscar Haffen Lamm

Cinclus Pharma: Q2 driven by BD progress, Phase 3 trial nearing initia...

Cinclus’ Q2 update focused on balance sheet items and a recap of corporate achievements. The company reported a cash position of SEK589m and operating expenses of SEK80.9m, up from the prior quarter - consistent with expectations given the Phase 3 trial ramp-up. With support from the Zentiva partne

Gregory Ramirez
  • Gregory Ramirez

LECTRA BUY | EUR45 Good resistance Chinese lockdowns; strong orde...

º Q2 results were slightly below expectations, but remained decent despite lockdowns in China New system orders hold up well thanks to automotive Company guidance for 2022 has been tightened toward its mid-point

Thibault Morel
  • Thibault Morel

HMS NETWORKS: HMS Networks 2Q22 results above expectations | CONVICTIO...

HMS NETWORKS - CONVICTION BUY | SEK500 HMS Networks 2Q22 results above expectations 2Q22 sales and new orders above expectations Positive surprise on 2Q22 profitability

Cedric Rossi
  • Cedric Rossi

HUGO BOSS: Successful execution and healthy geo mix lead to raised FY2...

HUGO BOSS - NEUTRAL | EUR68 vs. EUR64 Successful execution and healthy geo mix lead to raised FY22 guidance Strong sales and EBIT beat in Q2 driven by execution… … and low exposure to China’s lockdowns FY22 sales and EBIT guidance revised upwards and we increase our FY22-23 estimates by 7%

Clement Genelot
  • Clement Genelot

ROCHE BOBOIS: Q4 topping expectations with good H1 2022 prospects

ROCHE BOBOIS: Q4 topping expectations with good H1 2022 prospects

Victor Floc’h
  • Victor Floc’h

ONCODESIGN (CORPORATE, TP EUR15) | R&D collaboration signed with TiumB...

ONCODESIGN (CORPORATE, TP EUR15) | R&D collaboration signed with TiumBio in fibrosis

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