Report
Arnaud Despre ...
  • Augustin Socié
  • Gaetan Calabro
  • Jeremy Sallee
  • Maxence Dhoury
  • Mohamed Kaabouni
  • Nicolas Royot

La Matinale - 23-03-2023

LA VALEUR DU JOUR :
BENETEAU : Le palier des 10% en marge déjà franchi ! / Contact – Acheter (1), obj. 23.0€ Cours: 15.9€ au 22/03/23
BASTIDE : Maintient sa guidance après un bon S1 – Acheter (1), obj. 45.0€ Cours: 32.0€ au 22/03/23
BW IDEOL : Se tourne vers l'Ademe pour son financement – Acheter (1), obj. 40.0kr Cours: 11.05kr au 22/03/23
CLASQUIN : Très bonne surprise sur les FCF – Acheter (1), obj. 75.0€ Cours: 58.2€ au 22/03/23
GUERBET : EBITDA 2022 en haut de guidance, trou d'air en 2023 – Conserver (3), obj. 20.0€ Cours: 19.5€ au 22/03/23
HAULOTTE : Finalement rassurant sur 2023 ! – Conserver (3) vs Alléger (4), obj. 3.30€ Cours: 3.13€ au 22/03/23
HEXAOM : Sans surprise, le BtoB pèse – Acheter (1), obj. 34.0€ Cours: 18.1€ au 22/03/23
INFOTEL : 2022 au rendez-vous, 2023 bien lancé / Contact – Acheter (1), obj. 65.4€ Cours: 56.0€ au 22/03/23
INNATE PHARMA : Un modèle de partenariats qui fonctionne – Acheter (1), obj. 7.50€ Cours: 2.93€ au 22/03/23
MCPHY : Partenariat de fabrication en Inde – Renforcer (2), obj. 14.1€ Cours: 13.0€ au 22/03/23
NRJ GROUP : Belle progression des résultats et forte croissance du FCF – Acheter (1), obj. 10.1€ Cours: 6.34€ au 22/03/23
REALITES : Maîtrise parfaitement la marge projets – Acheter (1), obj. 43.0€ Cours: 29.1€ au 22/03/23
REWORLD MEDIA : Publication en ligne & potentiel d'Unify confirmé / Contact – Acheter (1), obj. 11.8€ Cours: 5.15€ au 22/03/23
ROCHE BOBOIS : Marge brute décevante au S2, confirmation pour 2023 – Acheter (1), obj. 48.0€ Cours: 41.5€ au 22/03/23
VALNEVA : VLA2001 masque une reprise des ventes satisfaisante – Acheter (1), obj. 9.50€ Cours: 4.85€ au 22/03/23
COLLECTE / DECOLLECTE : Pas de panique
ET AUSSI : RALLYE, ESSO, FONCIERE EURIS…
Underlyings
10x Genomics Inc Class A

Bastide Le Confort Medical SA

Bastide le Confort Medical is a holding company. Through its subsidiaries, Co. is engaged in the home health care industry. Co. retails and rents medical equipment and provides medical services. Products include breathing apparatus, orthopedic shoes, walking aids and wheelchairs, home appliances and furniture adapted to the needs of the lesser able, with the recent addition of equipment related to perfusion and nutrition. Co. operates through a number of outlets concentrated mainly in the South of France, offering advice and information to customers along with the provision and maintenance of medical equipment.

Beneteau SA

Beneteau designs, manufactures and sells yachts and powerboats through an international network of dealers. Co. also designs, manufactures and sells mobile homes. Its operations can be divided into two segments: The Boats segment and the Leisure Homes segment. The Boats segment groups together the activities for manufacturing and marketing boats with a customer base made up of dealers; The Leisure Homes segment groups together the activities for manufacturing and marketing mobile homes with a customer base made up of campsites and wholesalers, and the the activities for manufacturing and marketing wood-frame houses. Some of Co.'s brands are Beneteau, Jeanneau, CNB, IRM and O'Hara.

BW IDEOL AS

Clasquin SA

Clasquin Group designs and supervises the entire overseas transport & logistics chain. Co. has two operating segments: air and sea freight forwarding and related services ("overseas freight") and IT service contractor ("IT services"). The air freight forwarding and related services ("overseas freight") segment comprises of three business lines: air freight forwarding and related services, sea freight forwarding and related services, other services not included in air and sea freight (including related services) are grouped into the "others" business line.

Guerbet SA

Guerbet is a French pharmaceutical group that develops, markets, and provides maintenance services for medical equipment and devices destined for diagnostic and interventional imaging. Co.'s portfolio comprises media solutions covering MRI, X-rays and products devoted to International Radiology and Theranostics and medical devices. Co. organizes its operation by product family covering Magnetic Resonance Imaging (MRI), X-rays (XR) and Interventional Radiology and Theranostics (IRT). The MRI family includes Dotarem® and Artirem®; Co.'s X-ray product family includes Xenetix®, Optiray®/Optiject®, Oxilan®, and Telebrix®; and the IRT product family has Lipiodol®, Bleu Patente V and Hexabrix®.

Haulotte Group SA

Haulotte Group manufactures and sells machines for use in building/public works and industrial markets. Co. specializes in people and material lifting equipment. It also operates in rental market for this equipment. Co.'s offering includes access equipment, telehandlers, earth moving equipments, system and utility scaffolds, event staging and seating. Its activities can be divided into three segments: the manufacture and sale of lifting equipment, the rental of lifting equipment, and services (spare parts, repairs and financing). Co. operates geographically in Europe, North America, South America and Asia/Pacific.

HEXAOM SA

Maisons France Confort sells and builds built-to-order detached family homes (with the land purchased separately by the customer). Co.'s houses are presented in a catalogue. The plans are adapted and personalized for each customer by means of CAD (Computer Assisted Design) applications. The catalogues are designed around a centralized concept, but include regional variants. As of Dec 31 2010, the retail prices, excluding the land, of Co.'s houses vary between Euro70,000 and Euro800,000 including taxes, with the average selling price being Euro116,000 including taxes for an average living area of 98 sq. m.

Infotel SA

Infotel is a group of consulting companies and a global software vendor. The Group has developed a complete service offering and a range of software for enterprise servers. Co. provides consultancy, analysis, IT system audits, third-party application maintenance and software testing solutions. Co. designs and implements, as service contracts or service desk, management projects by implementing advanced methods and technologies, from mobile technology to databases. Co. has developed software to assist customers in areas such as DB2® (security, performance and management), data management and archiving, web-enables or quality applications and relational database performance.

Innate Pharma SA Class A

Innate Pharma S.A. is a biopharmaceutical Company developing immunotherapy drugs for cancer and inflammatory diseases. Co. specializes in the development of new monoclonal antibodies targeting receptors and pathways controlling the activation of innate immunity cells. Also, Co. has three product-candidates resulting from its research platform are being tested in clinical trials; two of these by Co.'s partners, Bristol-Myers Squibb and Novo Nordisk A/S. Co. focuses on immunopharmacology and antibody technology. Co. has a panel of molecular and cellular assays and in vivo models for assessing the pharmacodynamics, the pharmacotoxicology and efficacy of drug candidates.

McPhy Energy SA

McPhy Energy SAS is a France-based company that develops hydrogen storage and production solutions for the merchant hydrogen market and renewable energy markets. The Company sells solid-state hydrogen technology to provide a way for industrial gas renewable energy storage. Its products include the electrolyzer, a hydrogen generator that uses water as a raw material; solid hydrogen storage solutions with MCP and MGH series; and other ways that integrate electrolyzers and other solutions. It has offices in such countries as France, Italy and Germany and agents and distributors in Europe, Asia and Americas.

NRJ Group SA

NRJ Group is engaged in the multimedia industry, particularly in France's private radio market. Co. also operates in 22 other countries, as of Dec. 31, 2012. Co. works as a publisher, producer, and brodcaster, while marketing its own media space. Co. also develops new media such as television, internet and mobile telephony. Co.'s core business consists of creating and developing media, whether it be radio stations, television or the Internet. Co.'s operations can be divided into six segments: Musical Media and Events; Television; International Activities; Shows and Other Productions; Broadcasting and Other Activities. Co.'s brands are NRJ, NOSTALGIE, CHERIE FM, RIRE and CHANSONS.

Realites SCA

Realites SA, formerly known as Realites SCA is a France-based company principally engaged in the land subdivision in the sector of real estate development and operations. The Company supports businesses, elected officials, investors and individuals in their development projects construction and investment. Realites SA offers many real estate listings for sale programs, such as individual houses, apartments, services buildings like senior residences, offices and shops, among others. The Company offers real estates for housing, like primary and secondary residences, as well as a rental property investment or to build wealth. The Company provides its services in number of cities in France, such as Rennes, Nantes and Saint-Nazaire, among others.

ReWorld Media SA

Reworld Media SA is a France-based company engaged in the online information services sector. It specializes in publishing Internet sites for the general public dedicated to sustainable development. In addition, it develops and sells content and animations for Web portals and implements sensitization means and tools for companies and local administrations. The Company operates two Websites: Developpementdurable.com, which is engaged in the publishing of economic, social, environmental and political news, and GchangeTout.com, dedicated to products and services exchange between individuals. It has also developed a platform reworld.com, dedicated to sustainable development.

Roche Bobois International SAS

Roche Bobois SA, formerly Furn Invest SAS, is a France-based company operating in the furniture design and distribution businesses. It offers a broad range of made-to-order customizable designs, manufactured in small European workshops. The full furniture collection, divided in Living Room, Dining Room, Desks, Bedroom, Outdoor Furniture, and Other Products includes sofas, armchairs, cocktail tables, dining chairs, sideboards, beds, wardrobes, storage and accessories including lighting, cushions and rugs. The Company service offering includes Delivery, Financing, Warranty, Wedding Registry, Maintenance Guide, Catalogues, Interior Design and Online 3D (tridimensional) Planner. The Company operates through retail or franchising stores and owns more than 250 showrooms across the world. It is active in Europe, America, Africa, Asia and Middle East.

Valneva SE

Valneva, together with its subsidiaries, is focused on vaccine development and antibody discovery. Co. generates revenue from both its marketed product, a vaccine for the prevention of Japanese encephalitis (IXIARO®/JESPECT®), commercial partnerships around a portfolio of product candidates and licensed technology platforms (EB66® cell line, VIVA,Screen antibody discovery technology, and the IC31® adjuvant) developed by Co. Related business activities include product research and development, regulatory and clinical activities, manufacturing of commercial product and advanced clinical product candidates, as well as administrative, corporate development, and marketing and sales activities.

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Analysts
Arnaud Despre

Augustin Socié

Gaetan Calabro

Jeremy Sallee

Maxence Dhoury

Mohamed Kaabouni

Nicolas Royot

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