Benelux Morning Notes

Fugro: €50m share buyback. IBA: To equip Kazakhstan's first private radiopharmacy complex with Cyclone KIUBE 300. Retail Estates: Caution on tenants and consumers

Fugro Announcing €50m SBB

Fugro announced it will implement a share buyback programme for an amount of € 50m. The programme will result in a reduction of the company's share capital by cancelling all shares acquired through the repurchase programme, also offsetting dilution from the recently matured convertible bonds. A welcome announcement following the unwarranted sell off in the name. Buy and €28.5 TP reiterated.

Morning Notes : FUR NA, IBAB BB, RET BB

: FUR NA, IBAB BB, RET BB

Accor : Test first take

AXA : TEST

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VINCI : Trees can reach to the sky

>Ambitious but realistic targets for VINCI Energies - Today, VINCI is to host a CMD in Paris dedicated to its Energies division, during which it will present its targets out to 2030. VINCI Energies notably forecasts: Annual revenue growth in the mid- to high single digits on average between 2024 and 2030 (consensus at low to mid-single digits for the time being). International revenue up to 65% of total revenue in 2030 (vs 58% in 2023) An operating mar...