ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 13/12/2022
Le scenario de récession qui se confirme risque de freiner la reprise du trafic aérien et nous attendons désormais un retour sur les niveaux de 2019 en 2025 (vs 2024 précédemment). Notre analyse multicritère (trafic, coûts, pricing power, bilan, valorisation) nous conduit à ajuster notre hiérarchie de recommandation pour les compagnies aériennes et les aéroports. Notre préférence va désormais à Ryanair (Surperformance), Wizz Air (Surperformance vs Neutre) et AENA (Surperformance vs Ne...DWS Group GmbH & Co KgaA is a Germany-based company that provides integrated investment solutions. The Company offers active, passive and alternative investments across a wide range of asset classes, including Hedge Funds, Sustainable Investments, Private Equity, Liquid Real Assets, Real Estate, Equities and Fixed Income. It invests primarily in the areas of environmental, social and governance. The Company's clients include corporations, central banks, insurers, pension funds, public institutions, financial institution, not-for-profit organizations, as well as private investors. The Company is active in around 22 countries in Europe. Deutsche Bank AG is a majority shareholder of the Company.
Steag, through its subsidiaries, is engaged mainly in power generation and related industries. Co.'s business is divided into five units: Power generation, Decentralized Energy Supply, Foreign Power Plants, Gas Distribution, and Coal Trading.
H & M Hennes & Mauritz is engaged in the sale of clothing and cosmetics in Sweden and internationally. Co.'s stores offer basics, tailored classics, sportswear, and maternity clothes for women; basics, leisurewear, and seasonal fashions for men; denim and street fashions; and fashion wear for children and teenagers, as well as accessories, underwear, and shoes. Co. also provides makeup and body care products; and home fashion products, which include interior textiles for the bedroom, bathroom, living room, and kitchen. Co. has approximately 3,132 stores, including 110 franchise stores, 85 COS stores, 79 Monki stores, 21 Weekday stores, 8 & Other Stories stores and 3 Cheap Monday stores.
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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