reports
- Emmanuel Matot
ODDO BHF Small & MIDCAP MORNING NEWS - 11/20/2024
Efforts to revitalise the five brands that make up the Lanvin Group are under way and should pay off in the medium term. However, at this stage of development (critical mass not yet achieved for some brands, negative profitability and cash burn) and in a consumer environment that does not yet point to a rebound, we prefer to remain cautious on the share. We are initiating coverage with a Neutral rating, with a target price of $ 1.80, based on a DCF valuation. - ...
- Damien Choplain
- Martial Descoutures
- Emmanuel Matot
ODDO BHF Small & MIDCAP MORNING NEWS - 20/11/2024
Les efforts de redynamisation sont en cours pour les 5 marques qui constituent Lanvin Group et devraient porter leurs fruits à moyen terme. Toutefois, à ce stade de développement (taille critique encore non atteinte sur certaines marques, rentabilité négative et consommation de cash) et dans un environnement de consommation n’indiquant pas encore de rebond, nous préférons rester encore prudents sur le titre. Nous initions à Neutre, avec un OC à 1.8 $ résultant d’une valorisation par D...
- Damien Choplain
- Martial Descoutures
RHM RHEINMETALL AG
BLND BRITISH LAND COMPANY PLC
GRF GRIFOLS S.A. CLASS A
ELE ENDESA S.A.
ISP INTESA SANPAOLO S.P.A.
TLX TALANX AG
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
GRF.P GRIFOLS S.A. PREF CLASS B
ARGX ARGEN-X SE
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
SGSN SGS SA
- Benoit Valleaux
- Steven Gould
ODDO : ABI data (November 2024): trends confirmed
>Update on the macroeconomic and banking situation in Italy - The latest data from the Italian Banking Association (ABI), covering October 2024 confirms the recent trend, with an overall situation confirming its relative resilience in view of the recent indications (GDP, industrial production, confidence climate, etc.) and given uncertainties on the short to medium term. Lending activity confirmed signs of an improvement YTD (notably with regard to households) – ...
- Benoit Valleaux
- Steven Gould
ODDO : Statistiques ABI (Nov 2024) : tendances confirmées
>Point sur la situation macroéconomique & bancaire en Italie - Les dernières données de l’Association Bancaire Italienne (ABI), couvrant octobre 2024, confirment la tendance récente, avec une situation globale confirmant sa relative résilience au regard des indicateurs récents (PIB, production industrielle, climat de confiance…) et compte tenu des incertitudes à CMT. L’activité de crédit confirme les signes d’amélioration YTD (notamment auprès des ménages) – elle...
Intesa Sanpaolo S.p.A.: 3 directors
Three Directors at Intesa Sanpaolo S.p.A. sold 35,190 shares at between 3.874EUR and 3.907EUR. The significance rating of the trade was 54/100. 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 ov...
- Carole Braudeau
- Ahmed Ben Salem
- Emmanuel Matot
- Ahmed Ben Salem
- Emmanuel Matot
- Carole Braudeau
- Benoit Valleaux
- Steven Gould
Intesa Sanpaolo : Q3/9M 2024: still just as convincing!
>Outperform opinion maintained – Target price raised to € 4.9 (vs € 4.6) - Q3/9M 2024 results support our Outperform opinion, providing reassurance about key operating points (topline, costs and CoR) and, ultimately, capital and shareholder returns, with ISP further upgrading net income guidance for 2025. Diversification of the business model (focus on long-term savings) should continue to benefit ISP within the sector in the new interest-rate environment. We are rais...
- Benoit Valleaux
- Steven Gould
Intesa Sanpaolo : T3/9M 2024 : toujours aussi convaincant !
>Opinion Surperformance confortée – OC porté à 4.9 € (vs 4.6 €) - Le T3/9M 2024 conforte notre opinion Surperformance, rassurant sur les points clés opérationnels (topline, coûts & CdR), et in fine sur le capital/retour à l’actionnaire (avec ISP améliorant encore sa guidance de RN pour 2025). La diversification du business model (focus épargne LT) devrait continuer de favoriser ISP au sein du secteur dans le nouveau contexte de taux. Nous rehaussons de 3% en moyenne n...
- Javier Esteban
INTESA SANPAOLO: RDOS. 3T’24 (ANÁLISIS BANCO SABADELL)
Rdos. 3T'24 vs 3T'23: M. Intereses: 3.942 M euros (+3,4% vs +2% BS(e) y +0,3% consenso); M. Bruto: 6.802 M euros (+6,8% vs +3,5% BS(e) y +3,4% consenso); M. Neto: 4.066 M euros (+9,4% vs +3,8% BS(e) y n.a. consenso); BDI: 2.401 M euros (+26,4% vs +19,4% BS(e) y +19,3% consenso). Rdos. 3T'24 vs 2T'24: M. Intereses: 3.942 M euros (-1,8% vs -3,1% BS(e) y -4,7% consenso); M. Bruto: 6.802 M euros (-0,8% vs -3,9% BS(e) y -4,0% consenso); M. Neto: 4.066 M euros (-3,6% vs -8,6% BS(e) y n.a. consenso); B...
- Michael B. Schäfer
ODDO BHF Small & MIDCAP MORNING NEWS - 10/29/2024
Temenos, the European leader in core banking solutions with significant market share with Tier 3, 4 and 5 banks, faces structural challenges that impair its growth outlook: 1/ the reticence of major banking groups to renew their core banking system; 2/ fierce competition in the digital segment; and 3/ the slowdown in the launch pace for new neo-banks. Indeed, the group is set to scale back its medium-term targets at its CMD on 12 November. Moreover, the support for the stock offered b...
- Oliver Metzger
WCH WACKER CHEMIE AG
GALP GALP ENERGIA SGPS SA CLASS B
ADS ADIDAS AG
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
ALV ALLIANZ SE
ISP INTESA SANPAOLO S.P.A.
SIX2 SIXT SE
UCG UNICREDIT S.P.A.
BP. BP P.L.C.
DWS DWS GROUP GMBH & CO. KGAA
8TRA TRATON SE
STMN STRAUMANN HOLDING AG
- Michael B. Schäfer
ODDO BHF S all & MIDCAP MORNING NEWS - 29/10/2024
Temenos, leader européen des solutions Core Banking avec une part de marché significative auprès des banques Tiers 3, 4 et 5, fait face des défis structurels qui réduisent ses perspectives de croissance : 1/ la réticence des grands acteurs bancaires à renouveler leur Core banking system; 2/ la forte compétition sur le segment Digital et 3/ le ralentissement du rythme de lancement de nouvelles néo-banques. Aussi, le groupe devrait abaisser ses objectifs MT lors du CMD du 12 novembre. E...
- Oliver Metzger
WCH WACKER CHEMIE AG
GALP GALP ENERGIA SGPS SA CLASS B
ADS ADIDAS AG
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
ALV ALLIANZ SE
ISP INTESA SANPAOLO S.P.A.
SIX2 SIXT SE
UCG UNICREDIT S.P.A.
BP. BP P.L.C.
DWS DWS GROUP GMBH & CO. KGAA
8TRA TRATON SE
STMN STRAUMANN HOLDING AG
- Benoit Valleaux
- Steven Gould
ODDO : ABI statistics (Oct. 2024): no notable inflection
>Update on the macroeconomic and banking situation in Italy - The latest data from the Italian Banking Association (ABI), covering September 2024 confirms the recent trend, with an overall situation confirming its relative resilience in view of the recent indications (GDP, industrial production, confidence climate, etc.) and given uncertainties on the short to medium term. Loan activity confirms the signs of improvement YTD (notably in the consumer segment). It r...
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