INVEST SECURITIES - NACON : Momentum CT enfin favorable ? - ACHAT, OC 1,8€ vs 1,5€

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 06/03/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 03/06/2025

Triglav Group : Climbing higher: Triglav’s valuation does not reflect its true altitude

We upgrade Triglav to Outperform and see an upside potential of c. 25% to our new TP of € 62. Our updated model assumptions reflect the 2025-2030 strategy, with increase in EPS estimates for 2025 and 2026 of 7.4% and 6.8%. We think the 2025 guidance has upside potential and expect an upgrade with H1 results in August. Finally, despite the improved fundamentals, the stock is trading at an unjustified discount to peers.

FAQ – Investissement de transition

Nous abordons dans cette étude les réponses possibles aux questions les plus fréquemment posées par les investisseurs rencontrés lors de notre roadshow sur l’étude publiée le 3 février sur l’investissement de transition  (lien : FR|ENG). Les thèmes s’articulent autour de 3 catégories : 1/ les stratégies d’investissement et la réglementation (ESMA, SFDR, omnibus…), 2/ les plans de transition et méthodologies, 3/ l’identification concrète des secteurs et valeurs en transition. Nous avons également intégré une première interprétation de la production réglementaire intensive de la Commission europ...

FAQ – Transition investment

In this report, we address the most frequently asked questions from the investors that we met during our roadshow to present the report published on 3 February on transition investment  (link: FR|ENG). The topics fall into three categories: 1/ investment strategies and regulations (ESMA, SFDR, Omnibus, etc.), 2/ transition plans and methodologies, and 3/ the concrete identification of sectors and stocks in transition. We have also incorporated an initial interpretation of the European Commission's intensive regulatory output in Q1 2025.