reports
- ABGSC Capital Goods Research
- Adrian Gilani
- Delphine Brault
- Quentin Borie
Atlas Copco : Feedback CMD : on ne change pas une équipe qui gagne
>Maintien des objectifs long terme avec 8% de croissance du CA en moyenne - Lors de son CMD, Atlas Copco a réitéré, sans surprise, son principal objectif de long terme de réaliser une croissance du CA de 8% par an sur un cycle complet (~5% en organique et ~3% via les acquisitions). Il a dépassé cet objectif lors des dernières années avec une croissance annuelle moyenne de 10% entre 2014 et 2023. Nous continuons d’anticiper une croissance organique moyenne de 8% sur la...
- Louis Boujard
- CFA
- Philippe Ourpatian
ERG : Une trajectoire 2026 légèrement remaniée et les prémices de 2028
>Opinion Surperformance maintenue et OC ajusté à 33.3 € (vs 34.5 €) - A l’issue la réunion de présentation des performances au T1 24 et de la mise à jour stratégique 2024-2026, nous maintenons notre opinion Surperformance fondée sur le profil particulier du groupe qui offre un développement plus mesuré que ces concurrents, une certaine résilience et un rendement compris entre 3.5% et 4%, particularité rare dans l’univers des producteurs indépendants d’électricité reno...
- Jean-François Granjon
Derichebourg : Un exercice en demi-teinte
>Des résultats semestriels affectés par la cyberattaque et le contexte macro - Préalablement à la publication des résultats semestriels prévue le 29 mai (après clôture), nous effectuons un update alors que le management avait communiqué récemment sur un semestre sous pression. Lors de l’AG tenue fin janvier, le management avait déjà précisé qu’il n’était pas en mesure, comme il le fait régulièrement, de fournir des indications sur le T1. Cela s’expliquait par la cyber...
Entrada Therapeutics Inc: 1 director
A director at Entrada Therapeutics Inc bought 25,000 shares at 14.587USD and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two ye...
- Olfa Taamallah
- Yan Derocles
Rheinmetall AG : Vers un dense S2 2024
>Toujours en route pour un record de prises de commande en FY 24 - Après 3.9 Md€ sur le T1, Rheinmetall a confirmé que les nominations pour FY 24 devraient s’établir dans le haut de fourchette dévoilé précédemment de 28 à 36 Md€ avec toutefois un décalage dans la finalisation de certaines commandes. Le très attendu contrat cadre de munitions pour l’armée allemande est toujours anticipé dans une enveloppe d’environ 10 Md€ mais devrait être séparé en plusieurs contrats ...
- Baptiste Salaville
- Fehmi Ben Naamane
- Johanna Jourdain
DHL Group : A logistics leader driven by e-commerce, but short-term vi...
As the world leader in logistics, DHL operates in 220 countries via 5 main activities (post and parcels in Germany, Express, freight forwarding, supply chain and e-commerce). Despite buoyant structural trends (global trade, e-commerce, outsourcing of logistics chains), we are initiating coverage with a Neutral rating and target price of € 43 in the absence of short-term visibility on the global macro environment and due to the risk of a consensus downgrade. - >Initiating c...
- Can Demir
WOOD Flash – Bank of Cyprus: 1Q24 highlights
Bank of Cyprus (BOCH) reported EUR 133m in net income, and we believe that the bank has made a better start than its conservative guidance for the year. BOCH targets a >17% ROTE, if it adjusts its capital to a 15% CET1 ratio. In 1Q24, on our calculations, the bank had over a 23% ROTE, with a 17.1% CET1 ratio. Although we knew that the bank was defensive in its 2024E guidance, 1Q24 gave us more assurances that BOCH has little risk of missing our EUR 476m 2024E net income estimate. During the conf...
First quarter 2024 results: SCOR starts 2024 with a strong first three...
First quarter 2024 results: SCOR starts 2024 with a strong first three-months net income of EUR 196 million Press release17 May 2024 - N° 07 First quarter 2024 results SCOR starts 2024 with a strong first three-months net income of EUR 196 million Group net income of EUR 196 million in Q1 2024 (EUR 176 million adjusted1) Group Economic Value2 under IFRS 17 of EUR 9.6 billion as of 31 March 2024, up +4.8%3 (+4.1% at constant economics3,4) compared with 31 December 2023, implying an Economic Value per share of EUR 54 (vs. EUR 51 as of 31 ...
Résultats du premier trimestre 2024 : SCOR débute l’année 2024 avec un...
Résultats du premier trimestre 2024 : SCOR débute l’année 2024 avec un solide résultat net trimestriel de EUR 196 millions Communiqué de presse17 mai 2024 - N° 07 Résultats du premier trimestre 2024 SCOR débute l’année 2024 avec un solide résultat net trimestriel de EUR 196 millions Résultat net du Groupe de EUR 196 millions au T1 2024 (EUR 176 millions, ajusté1) Valeur Économique du Groupe2 mesurée selon le référentiel comptable IFRS 17 de EUR 9,6 milliards au 31 mars 2024, en hausse de +4,8 %3 (+4,1 % à hypothèses économiques constantes3,4) par rapport au 31 dé...
Temenos AG: 1 director
A director at Temenos AG bought 3,200 shares at 57.540CHF and the significance rating of the trade was 69/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sho...
AlTi Global Inc: 2 directors
A director at AlTi Global Inc bought 84,210 shares at 4.557USD and the significance rating of the trade was 90/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearl...
Endeavor Group Holdings Inc: 1 director
A director at Endeavor Group Holdings Inc sold 20,832 shares at 26.514USD and the significance rating of the trade was 64/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two y...
Taesung Co Ltd: 1 director
A director at Taesung Co Ltd sold 44,183 shares at 4,794.749KRW and the significance rating of the trade was 50/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clear...
- Jean-François Granjon
LISI : Aerospace takes off, target price raised to € 35 from € 30
Growth momentum remains solid, and the publication of Q1 sales bodes well for the future (12.5% organic growth, including 27% for Aerospace). Margins are set to pick up in 2024 (by an estimated 110bp), with the underlying operating profit expected to jump 33%. With good visibility for Aerospace, medium-term potential for Automotive and profitable growth for Medical, we estimate the potential for margin improvement at no less than 500bp in the medium term. We are raising our under...
BGHL (EUR): NAV(s)
BGHL (EUR): NAV(s) BOUSSARD & GAVAUDAN HOLDING LIMITED Ordinary Shares The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company. Close of business 16 May 2024. Estimated NAV Euro SharesSterling SharesEstimated NAV€ 27.7254£ 24.8422Estimated MTD return 0.14 % 0.19 %Estimated YTD return 0.64 % 1.11 %Estimated ITD return 177.25 % 148.42 % NAV and returns are calculated net of management and performance fees Market information Euro SharesAmsterdam (AEX)London (LSE)...
BGHL (GBP): NAV(s)
BGHL (GBP): NAV(s) BOUSSARD & GAVAUDAN HOLDING LIMITED Ordinary Shares The Directors of Boussard & Gavaudan Holding Limited would like to announce the following information for the Company. Close of business 16 May 2024. Estimated NAV Euro Shares Sterling Shares Estimated NAV € 27.7254 £ 24.8422 Estimated MTD return 0.14 % 0.19 % Estimated YTD return 0.64 % 1.11 % Estimated ITD return 177.25 % 148.42 % NAV and returns are calculated net of management and performance fees Ma...
Richemont announces strong underlying performance for the year ended 3...
Richemont announces strong underlying performance for the year ended 31 March 2024 AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR17 MAY 2024 Please find below the Highlights and Chairman’s commentary from Richemont FY24 Annual Results Announcement. RICHEMONT ANNOUNCES STRONG UNDERLYING PERFORMANCEFOR THE YEAR ENDED 31 MARCH 2024 Group highlights Group sales at all-time high of € 20.6 billion; Q4 sales down by 1% at actual exchange rates, up 2% at constant exchange ratesOperating profit at € 4.8 billion, notwithstanding significant adverse foreign currency movements and non-recurri...
Moody's Ratings affirms Brambles' Baa1 ratings; outlook remains stable
Moody's Ratings (Moody's) has today affirmed Brambles Limited's Baa1 long-term issuer rating and its P-2 short-term issuer rating. At the same time, Moody's has affirmed the Baa1 backed senior unsecured ratings and the (P)Baa1 backed senior unsecured medium-term note (MTN) program ratings of Brambl...
- Bram Buring
- CFA
WOOD Flash – AROBS Transilvania Software: revenues recovery to be back...
1Q24 was another quarter of stagnation in the IT sector and, therefore, soft earnings from AROBS – revenues fell by 5% yoy and the adjusted net profit by 30% yoy. Management highlighted several factors, including: 1) delays in signing new contracts linked to automotive electrification; 2) disappointing results from AROBS Polska (aerospace), which is now being reorganised; 3) integration systems revenues that will be backloaded into 2H24E; and 4) targeted new investments in sales and marketing. O...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.