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ABGSC Credit Research ... (+2)
  • ABGSC Credit Research
  • Bendik Fougner Engebretsen

Expanding the portfolio

We expect ~30% more production in 2024. Bestla field grants valuable long-term prospects. Bond seems de-risked – decent short-term carry.

Carole Braudeau
  • Carole Braudeau

Morning Crédit 07/05/2024

Monte publie un T1 2024 solide, au-dessus des attentesZalando : objectifs confirmés à l’issue d’un T1 supérieur aux attentes, envisage des rachats d’obligations convertibles 2025 pour 100 m EUR maximumClariane a reçu une offre pour la cession de ses activités HAD/SSIAD en FranceBanco Sabadell rejette la proposition de fusion de BBVA>...

ABGSC IT Research ... (+2)
  • ABGSC IT Research
  • Øystein Elton Lodgaard

Quality still at a discount

We lift '24-'25e EBITA by 5% and '26e by 12%. Stable, low-risk business with 5-10% org. growth. BUY: Quality company at 8-9% '24e-'25e FCF yield. TP up to NOK 30 (26).

 PRESS RELEASE

Air Liquide : MODIFICATION DE CAPITAL

PARIS--(BUSINESS WIRE)-- Regulatory News: Air Liquide (Paris:AI) : Réduction de capital par annulation d’actions Faisant usage de l’autorisation donnée par l’Assemblée Générale Mixte du 3 Mai 2023 en sa 18ème résolution, le Conseil d’Administration dans sa séance du 30 avril 2024 a décidé de réduire le capital social d’un montant de 3 448 500 euros pour le ramener de 2 884 842 279,00 euros à 2 881 393 779,00 euros par annulation de 627 000 (six cent vingt sept mille) actions acquises en vertu de l’autorisation donnée par l’Assemblée Générale Ordinaire du 3 mai 2023 (dans sa 4ème résoluti...

Garfunkelux Holdco 2 S.A.: Update following ratings downgrade, ratings...

Our credit view of this issuer reflects its debt maturity concentration in 2025, against its regulatory risk inherent to the debt collection business.

Loihde Oyj: 1 director

A director at Loihde Oyj bought 2,500 shares at 13.945EUR and the significance rating of the trade was 59/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly sho...

Wihlborgs Fastigheter AB: 1 director

A director at Wihlborgs Fastigheter AB sold 8,000 shares at 94.200SEK and the significance rating of the trade was 70/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...

Timken Co: 2 directors

Two Directors at Timken Co sold/sold after exercising options 99,006 shares at between 88.860USD and 89.406USD. The significance rating of the trade was 73/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the compa...

Scandi Standard AB: 4 directors

Two Directors at Scandi Standard AB bought 102,534 shares at between 72.250SEK and 72.560SEK. The significance rating of the trade was 81/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors ove...

Emmanuel Matot
  • Emmanuel Matot

Arkema : No major surprises in the quarterly publication

>EBITDA down in Q1 but not by as much as expected - Arkema has just reported its Q1 2024 results. EBITDA was down 5% to € 350m, 3% above forecasts (ODDO BHF / consensus = € 340m/€ 341m) and 6% above the guidance (€ 331m corresponding to Q4 2023).The group continues to operate in a context of weak demand (volumes = 0%, of which +3% for speciality chemicals and -28% intermediates – as a reminder Q4 2023= +2%). By division, adhesives and advanced materials delivere...

 PRESS RELEASE

EQS-News: Health-Tech-Stars 2024: Das ist die Shortlist für den Digita...

EQS-News: Novartis Pharma GmbH / Schlagwort(e): Sonstiges Health-Tech-Stars 2024: Das ist die Shortlist für den Digitalen Gesundheitspreis von Novartis 07.05.2024 / 10:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Health-Tech-Stars 2024: Das ist die Shortlist für den Digitalen Gesundheitspreis von Novartis Aus mehr als 90 Bewerbungen hat die unabhängige, ehrenamtliche Jury des Digitalen Gesundheitspreises die besten fünf Projekte zu den Schwerpunktthemen #Sekundärprävention, #DigitaleTherapiewege und #FortschrittDurchDaten ausgew...

 PRESS RELEASE

Li Auto Inc. to Report First Quarter 2024 Financial Results on May 20,...

Li Auto Inc. to Report First Quarter 2024 Financial Results on May 20, 2024 BEIJING, China, May 07, 2024 (GLOBE NEWSWIRE) -- Li Auto Inc. (“Li Auto” or the “Company”) (Nasdaq: LI; HKEX: 2015), a leader in China’s new energy vehicle market, today announced that it will report its unaudited financial results for the first quarter of 2024 before the U.S. market opens on Monday, May 20, 2024. The Company’s management will hold an earnings conference call on Monday, May 20, 2024, at 8:00 A.M. U.S. Eastern Time or 8:00 P.M. Beijing/Hong Kong Time on the same day. For participants who ...

Geoffroy Michalet
  • Geoffroy Michalet

Applus Service SA : Applus story set to come to a close soon... Target...

>No Q1 revenues - The group did not report its Q1 revenues due to the ongoing public tender offer. We had a contact with the company and noted that top-line momentum remains strong in the high single digits, carrying on from Q4 2023. Where the takeover bid is concerned, on 30 April 2024, the CNMV confirmed that Amber’s winning bid (TDR & I Squared) is the successful offer and will be subject to an acceptation period. Last Friday, the two funds filed their propos...

ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Jan Erik Gjerland

Underlying CR inline, beat driven by financials

If P&C's underlying CR in line with ABG, much better financials. Reported CR (If P&C) weaker at 86.7% hit by tough Nordic weather. Cons.24e (+0-2% amid financials), 25e-26e intact; stock end up +1%.

Research Department
  • Research Department

VISIÓN TÁCTICA DE LOS MERCADOS 07 MAYO (ANÁLISIS BANCO SABADELL)

VISIÓN TÁCTICA DE LOS MERCADOS 07 MAYO (ANÁLISIS BANCO SABADELL)

Hankook Tire & Technology Co., Ltd.: Announced acquisition of Hanon Sy...

HKT's adjusted debt/EBITDA will rise to around 2.3x-2.5x on a pro forma basis for the next one to two years from 0.6x in 2023.

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