reports
- Carole Braudeau
- Carole Braudeau
Fresenius Medical Care AG: 1 director
A director at Fresenius Medical Care AG bought 15,823 shares at 38.632USD and the significance rating of the trade was 100/100. 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 ...
- Luis de Toledo Heras
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/20/2024
Campari shares are starting to show signs of flagging against the backdrop of a weaker-than-expected Q3 2023, a controversial acquisition in cognac, and dilution following the January capital increase. In addition, as the group diversifies, its profile increasingly resembles that of a pure player such as Pernod Ricard and Diageo, for which long-term growth and valuation levels are lower. By revising down our long-term growth estimates for Campari, we are lowering our target price to €...
AI AIR LIQUIDE SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
AIR AIRBUS SE
BAYN BAYER AG
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
BHP BHP GROUP LTD
IHG INTERCONTINENTAL HOTELS GROUP PLC
- Luis de Toledo Heras
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 20/02/2024
Le titre Campari commence à montrer des signes de faiblesses sur fond d’un T3 23 inférieur aux attentes, d’une acquisition controversée dans le cognac, et de la dilution suite à l’augmentation de capital de janvier. En outre, à mesure que le groupe se diversifie, son profil s’apparente à celui d’un pure player comme Pernod Ricard et Diageo, dont les niveaux de croissance de long terme et de valorisation sont inférieurs. En réduisant la croissance de long terme du groupe italien, nous ...
AI AIR LIQUIDE SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
AIR AIRBUS SE
BAYN BAYER AG
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
BHP BHP GROUP LTD
IHG INTERCONTINENTAL HOTELS GROUP PLC
- Carole Braudeau
- Carole Braudeau
- Oliver Metzger
Fresenius Medical Care : Q4 review – Looking with confidence into 2024
>Q4 review – Ahead of expectations - Fresenius Medical Care's Q4 2023 revenues of € 4,988m (-0.1% y-o-y, 1% ahead of ODDO BHF/consensus) were supported by organic growth of 3.3% at the group level compared to our forecast of 4.3% and to consensus’ expectations of 5.5%. Acquisitions accounted for 410bp and forex created a headwind of 7.6%.Q4 adjusted EBIT of € 555m (+12.1% y-o-y, margin of 11.1%) was in line with our forecast and 2% ahead of the consensus. Reporte...
- Oliver Metzger
Fresenius Medical Care : On track for 2025 targets – incorporating hig...
>Q4 preview – strong finish of a better-than-expected year - Q4 revenues of € 4,930m (-1.3% y-o-y) should profit from organic growth of 4.3%, but suffer from divestments of 70bp and forex headwind of 490bp. We forecast revenues of € 3,897m (-2.4% y-o-y) for Care delivery impacted by the exit of some international markets. For Care enablement, we predict revenues of € 1,399m (+0.5% y-o-y) supported by organic growth of 5.3%. Q4 EBIT is expected to reach a strong ...
- Ahmed Ben Salem
- Bruno Cavalier
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 05/02/2024
3 valeurs sortent aujourd’hui de notre liste de Convictions Large Caps européennes. Nous prenons nos profits sur ASML (+ 30% depuis son entrée dans la liste) après sa forte hausse post publication de son T4 2023. Inversement, nous coupons notre position sur RWE (-15% depuis son entrée) après de bons résultats 2023 mais une guidance 2024 revue en baisse. Nous conservons Sodexo dans son nouveau périmètre mais sortons Pluxee. - ...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
TKA THYSSENKRUPP AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
REE RED ELECTRICA CORP. SA
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CABK CAIXABANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BHP BHP GROUP LTD
RMV RIGHTMOVE PLC
DSFIR KONINKLIJKE DSM N.V.
- Ahmed Ben Salem
- Bruno Cavalier
- Marc Lavaud
- Martin Marandon-Carlhian
- Stephane Houri
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 02/05/2024
We are removing three stocks from the ODDO BHF European Large Caps Convictions List today. We are taking our profits on ASML (+30% since its inclusion in the list) after its strong gains since the publication of its Q4 2023 results. Conversely, we are reducing our position on RWE (-15% since its inclusion in the list) following a good set of 2023 results but a downward revision to 2024 guidance. We maintain Sodexo in its new scope in the list but withdraw Pluxee - ...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
TKA THYSSENKRUPP AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
REE RED ELECTRICA CORP. SA
01913 PRADA S.P.A.
MONC MONCLER SPA
ENG ENAGAS SA
CABK CAIXABANK SA
CFR COMPAGNIE FINANCIERE RICHEMONT SA
INGA ING GROEP NV
BHP BHP GROUP LTD
VOD VODAFONE GROUP PLC
RMV RIGHTMOVE PLC
DSFIR KONINKLIJKE DSM N.V.
- Carole Braudeau
Verallia : Credit feedback – ODDO BHF Forum, 11 to 16 January 2024
The 27th ODDO BHF forum was held in the form of physical meetings (11-12 January) and digital meetings (15-16 January). It was attended by 325 companies (compared with 322 in 2023 and 314 in 2022): ~40% French, 30% German and 30% from the rest of the EU (except one from US). - Our 2024 Forum welcomed 910 investors (vs. 781 in 2023) 53% of whom were French (vs. 58% in 2023) working for 378 institutions in 20 countries. We organised the equivalent of 8,196 investor meetings (vs. 7,...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
IPS IPSOS SA
SCHP SECHE ENVIRONNEMENT SA
LHA DEUTSCHE LUFTHANSA AG
AC ACCOR SA
GET GETLINK SE
EDEN EDENRED SA
ELIOR ELIOR GROUP SA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
NK IMERYS SA
MTX MTU AERO ENGINES AG
ORA ORANGE SA
EO FAURECIA SA
NXI NEXITY SA CLASS A
EN BOUYGUES SA
DBG DERICHEBOURG SA
GYC GRAND CITY PROPERTIES SA
KORI KORIAN SA
POM PLASTIC OMNIUM SE
SCR SCOR SE
DEC JCDECAUX SA
TEP TELEPERFORMANCE SE
CGM CEGEDIM SA
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ALTA ALTAREA SCA
ZAL ZALANDO SE
NEX NEXANS SA
ERA ERAMET SA
EZJ EASYJET PLC
QDT QUADIENT SA
ELIS ELIS SA
SOI SOITEC SA
TEG TAG IMMOBILIEN AG
AMS AMADEUS IT GROUP SA CLASS A
KGX KION GROUP AG
EDR EDREAMS ODIGEO SA
ONTEX ONTEX GROUP N.V.
COFA COFACE SA
VLTSA VOLTALIA
SPIE SPIE SA
HBH HORNBACH HOLDING AG & CO. KGAA
TKO TIKEHAU CAPITAL SCA
CGG CGG
TEF TELEFONICA SA
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
NEOEN NEOEN S.A.
VRLA VERALLIA SAS
DSC1 DUTCH STAR C SHAR
VK VALLOUREC SA
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
TE TECHNIP ENERGIES NV
TUI TUI AG
AF AIR FRANCE - KLM
- Carole Braudeau
Verallia : Feedback Crédit Forum du 11 au 16 janvier 2024
Notre 27ième Forum vient de se dérouler de manière présentielle (11-12 janvier), à Lyon, et en digital (les 15-16 janvier). Il a réuni 325 sociétés (vs 322 sociétés en 2023 et 314 en 2022), originaire à ~40% de France, à 30% d’Allemagne et les 30% restant venant du reste de l’Europe (sauf une société américaine). - L’édition 2024 de notre Forum a accueilli 910 investisseurs (781 en 2023) dont 53% français (vs 58% en 2023) travaillant pour 378 institutions de 20 pays. Nous avons ai...
FME FRESENIUS MEDICAL CARE AG & CO. KGAA
IPS IPSOS SA
SCHP SECHE ENVIRONNEMENT SA
LHA DEUTSCHE LUFTHANSA AG
AC ACCOR SA
GET GETLINK SE
EDEN EDENRED SA
ELIOR ELIOR GROUP SA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
NK IMERYS SA
MTX MTU AERO ENGINES AG
ORA ORANGE SA
EO FAURECIA SA
NXI NEXITY SA CLASS A
EN BOUYGUES SA
DBG DERICHEBOURG SA
GYC GRAND CITY PROPERTIES SA
KORI KORIAN SA
POM PLASTIC OMNIUM SE
SCR SCOR SE
DEC JCDECAUX SA
TEP TELEPERFORMANCE SE
CGM CEGEDIM SA
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
ALTA ALTAREA SCA
ZAL ZALANDO SE
NEX NEXANS SA
ERA ERAMET SA
EZJ EASYJET PLC
QDT QUADIENT SA
ELIS ELIS SA
SOI SOITEC SA
TEG TAG IMMOBILIEN AG
AMS AMADEUS IT GROUP SA CLASS A
KGX KION GROUP AG
EDR EDREAMS ODIGEO SA
ONTEX ONTEX GROUP N.V.
COFA COFACE SA
VLTSA VOLTALIA
SPIE SPIE SA
HBH HORNBACH HOLDING AG & CO. KGAA
TKO TIKEHAU CAPITAL SCA
CGG CGG
TEF TELEFONICA SA
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
NEOEN NEOEN S.A.
VRLA VERALLIA SAS
DSC1 DUTCH STAR C SHAR
VK VALLOUREC SA
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
TE TECHNIP ENERGIES NV
TUI TUI AG
AF AIR FRANCE - KLM
- Carole Braudeau
Credit Morning 01/09/2024
Gotham City Research releases a report estimating that Grifols artificially reduces its leverage Reuters says Douglas plans for IPO in CQ1 24Tier 2 callable 2024 – calls continue to be exercised/managed (e.g. Piraeus) AT1 – KBC to repay its AT1 03/24 - Strong probability of AT1 call exercise for H1 2024>...
- Carole Braudeau
Morning Crédit 09/01/2024
Gotham City Research publie un rapport estimant que Grifols réduit artificiellement son levier Reuters says Douglas plans for IPO in CQ1 24Tier 2 callable 2024 – les calls continuent d’être exercés / gérés (ex. Piraeus) AT1 – KBC annonce le call – les proba de call des AT1 2024 sont fortes pour le S1>...
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
- Carole Braudeau
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