Oddo BHF - Check-up du consommateur US : bon état général

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Oddo BHF

Bruno Cavalier

Check-up du consommateur US : bon état général

Contredisant les signaux négatifs qui pointaient cet été, les dernières données sont rassurantes pour l’économie US, en particulier le consommateur. Les ventes au détail, un bon proxy des dépenses en biens, ont repris une tendance haussière. Comme l’inflation a ralenti, cela traduit une hausse des volumes. Les dépenses en services sont sur une pente ascendante assez régulière. Au total, la consommation des ménages est bien partie pour contribuer à hauteur de 2.5 points à la crois...

18/10/2024 1 FR

Provider

Oddo BHF

Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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Analysts

Bruno Cavalier

Other Reports from Oddo BHF

Nicolas David

Nicolas David

Atos : Execution risk and debt levels still too high to come back to the stock

Following its debt restructuring, Atos has regained a cash position that will enable it to continue operations. However, in an unfavourable macroeconomic environment, the group's operational recovery will be tough going and cash burn is set to remain high. Despite the CMD due on 14 May, we think it is too early to return to the stock. We are upgrading our recommendation to Neutral with a target price of € 35.

13h / 1m 13h / 1m 1 EN

Mateo Salcedo

Mateo Salcedo

Webuild : Building resistance: no significant impacts expected from the tariff war

Webuild has posted a strong set of results over the past years, with actual numbers exceeding the guidance. Going forward, we expect the company to continue delivering on its backlog, resulting in a sequential improvement in profitability. Despite the current macroeconomic volatility, Webuild is not expected to be directly impacted by US tariffs (local player through Lane) nor a potential economic slowdown, being exposed to long-term government spending programs in key regions such as Italy and Saudi Arabia. We have revised our recommendations, as in current market conditions, we find the long...

13h / 7m 13h / 7m 1 FR

Mateo Salcedo

Mateo Salcedo

Webuild : Building resistance: no significant impacts expected from the tariff war

13h / 7m 13h / 7m 1 EN

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Check-up du consommateur US : bon état général

Atos : Execution risk and debt levels still too high to come back to the stock

Webuild : Building resistance: no significant impacts expected from the tariff war

Webuild : Building resistance: no significant impacts expected from the tariff war

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