reports
- Guy Sips
- Jacob Mekhael
- Kristof Samoy
- Livio Luyten
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Thomas Couvreur
- Wim Hoste
- Wim Lewi
Dynamic Top Pick List Update February 2026: Removing ASMi; Adding UCB
After today's changes (ASMi out, UCB in), we maintain a balanced approach in our Dynamic Top Pick List, with a particular emphasis on value stocks that have been overlooked. Our defensive holdings are overweight, including real estate, which stands to benefit from lower interest rates. We remove ASMi from our Dynamic Top Pick List as the recent share price performance has driven the valuation meaningfully ahead of fundamentals. Since early December, FY27 diluted EPS expectations have risen by a...
EVS EVS BROADCAST EQUIPMENT SA
UCB UCB S.A.
DIE D'IETEREN SA
SOF SOFINA SA
IBAB ION BEAM APPLICATIONS SA
ROYAL VOPAK NV
AED AEDIFICA SA
CSM CORBION NV
ABI ANHEUSER-BUSCH INBEV SA/NV
ARGX ARGEN-X SE
WDP WAREHOUSES DE PAUW SCA
AZE AZELIS GROUP NV
DEME DEME GROUP NV
SHUR SHURGARD SELF STORAGE LIMITED
Participation notifications by UBS Group AG
Participation notifications by UBS Group AG Press release Regulated information Brussels, January 29, 2026, 17:45 CET In line with Belgian transparency legislation (Law of May 2, 2007), UBS Group AG recently sent to Solvay the following transparency notifications indicating that they crossed the threshold of 3%. Here is a summary of the notifications: Date on which the threshold is crossed Voting rights after the transaction Equivalent financial instruments after the transaction Total 21 January 2026 0.00% 0.00% 0.00% 23 ...
Notifications de participation par UBS Group AG
Notifications de participation par UBS Group AG Communiqué de presse Information réglementéeBruxelles, le 29 janvier 2026 - 17h45 CET Conformément à la législation et réglementation en matière de transparence financière (loi du 2 mai 2007), UBS Group AG a envoyé récemment à Solvay les notifications de transparence suivante indiquant avoir franchi le seuil de 3%. Voici un résumé des notifications: Date de dépassement de seuil Droits de vote Instruments financiers équivalents Total 21 janvier 2026 0,00% 0,00% 0,00% 23 janvie...
Participatiemeldingen van UBS Group AG
Participatiemeldingen van UBS Group AG Persbericht Gereglementeerde informatie Brussel, 29 januari 2026 - 17u45 CET In overeenstemming met de Belgische transparantiewetgeving (Wet van 2 mei 2007) heeft UBS Group AG onlangs de volgende transparantiekennisgevingen naar Solvay gestuurd om aan te geven dat ze de drempel van 3% heeft overschreden. Hier is een samenvatting van de bewegingen: Datum waarop de drempel werd overschreden Stemrechten Aan stemrechten gelijkgestelde financiële instrumenten Totaal 21 januari 2026 0,00% 0...
Participation notifications by Citigroup Inc.
Participation notifications by Citigroup Inc. Press release Regulated information Brussels, January 28, 2026, 17:45 CET In line with Belgian transparency legislation (Law of May 2, 2007), Citigroup Inc. recently sent to Solvay the following transparency notifications indicating that they crossed the threshold of 3%. Here is a summary of the notifications: Date on which the threshold is crossed Voting rights after the transaction Equivalent financial instruments after the transaction Total January 19, 2026 0.56% 2.51 3.06% ...
Notifications de participation par Citigroup Inc.
Notifications de participation par Citigroup Inc. Communiqué de presse Information réglementée Bruxelles, le 28 janvier 2026 - 17h45 CET Conformément à la législation et réglementation en matière de transparence financière (loi du 2 mai 2007), Citigroup Inc. a envoyé récemment à Solvay les notifications de transparence suivantes indiquant avoir franchi le seuil de 3%. Voici un résumé des notifications: Date de dépassement de seuil Droits de vote Instruments financiers équivalents Total 19 janvier 2026 0,56% 2,51 3,06% 22 ja...
Participatiemeldingen van Citigroup Inc.
Participatiemeldingen van Citigroup Inc. Persbericht Gereglementeerde informatie Brussel, 28 januari 2026 - 17u45 CET In overeenstemming met de Belgische transparantiewetgeving (Wet van 2 mei 2007) heeft Citigroup Inc. onlangs de volgende transparantiekennisgevingen naar Solvay gestuurd om aan te geven dat ze de drempel van 3% heeft overschreden. Hier is een samenvatting van de bewegingen: Datum waarop de drempel werd overschredenStemrechtenAan stemrechten gelijkgestelde financiële instrumentenTotaal19 januari 20260,56%2,513,06%22...
- Livio Luyten
- Michiel Declercq
- Thibault Leneeuw
- Wim Hoste
- Wim Hoste
Solvay Taking a more cautious stance, lowering target price
Increased pressure in the soda ash market prompts us to take a more conservative approach with regards to contract terms for the coming years, resulting in a reduction of our group EBITDA forecasts for 2026-2028 by between 6-11%. The dividend policy of a stable to increasing dividend from a € 2.43 base looks increasingly generous as servicing the dividend representing the vast majority of current FCF generation, limiting the group's ability to pursue other growth initiatives. Despite the attract...
- Stijn Demeester
Solvay/Attractive yield, limited near-term catalysts/HOLD (previously ...
We trim our target price for Solvay to €26 per share (from €30) on the back of lower estimates and downgrade our recommendation from Buy to HOLD. Solvay trades at an attractive dividend yield but otherwise offers too few near-term share price catalysts given ongoing headwinds in some of its core segments.
- Quirijn Mulder
- Stijn Demeester
Azelis/Trimming estimates on ‘softer-for-longer' view/BUY
We trim our estimates as we expect the challenging macro environment, as experienced in 3Q25, to extend into 4Q25 and 1H26. Our lower target price of €14 per share (from €19), reflects our lower estimates and de-rated peer multiples. We maintain our BUY recommendation.
- Ahmed Ben Salem
- Emira Sagaama
- Oddo Sustainability Team
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VAC PIERRE & VACANCES SA
BIO BB BIOTECH AG
STF STEF
ITP INTERPARFUMS
SWP SWORD GROUP SE
GLO GL EVENTS SA
ACX ACERINOX SA
EBRO EBRO FOODS SA
ENI ENI S.P.A.
REP REPSOL SA
AALB AALBERTS N.V.
ARG ARGAN SA
FLU FLUGHAFEN WIEN AG
SIFG SIF HOLDING NV
SFSN SFS GROUP AG
BP. BP P.L.C.
FAST FASTNED
AZE AZELIS GROUP NV
SHEL SHELL PLC
7V0 DARWIN AG
ARYN ARYZTA AG
- Ahmed Ben Salem
- Emira Sagaama
- Oddo Sustainability Team
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
VAC PIERRE & VACANCES SA
BIO BB BIOTECH AG
STF STEF
ITP INTERPARFUMS
SWP SWORD GROUP SE
GLO GL EVENTS SA
ACX ACERINOX SA
EBRO EBRO FOODS SA
ENI ENI S.P.A.
REP REPSOL SA
AALB AALBERTS N.V.
ARG ARGAN SA
FLU FLUGHAFEN WIEN AG
SIFG SIF HOLDING NV
SFSN SFS GROUP AG
BP. BP P.L.C.
FAST FASTNED
AZE AZELIS GROUP NV
SHEL SHELL PLC
7V0 DARWIN AG
ARYN ARYZTA AG
- Stefano Toffano
Solvay SA: 1 director
A director at Solvay SA bought 1,000 shares at 24.900EUR and the significance rating of the trade was 52/100. 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 show...
Participation notifications by Morgan Stanley
Participation notifications by Morgan Stanley Press release Regulated information Brussels, January 20, 2026, 17:45 CET In line with Belgian transparency legislation (Law of May 2, 2007), Morgan Stanley recently sent to Solvay the following transparency notifications indicating that they crossed the threshold of 3%. Here is a summary of the notifications: Date on which the threshold is crossedVoting rights after the transactionEquivalent financial instruments after the transactionTotalDecember 23, 20250.00%-0.00%January 9,...
Notifications de participation par Morgan Stanley
Notifications de participation par Morgan Stanley Communiqué de presse Information réglementée Bruxelles, le 20 janvier 2026 - 17h45 CET Conformément à la législation et réglementation en matière de transparence financière (loi du 2 mai 2007), Morgan Stanley a envoyé récemment à Solvay les notifications de transparence suivante indiquant avoir franchi le seuil de 3%. Voici un résumé des notifications: Date de dépassement de seuilDroits de voteInstruments financiers équivalentsTotal23 décembre 20250,00%-0,00%9 janvier 20260,04%3,16%...
Participatiemeldingen van Morgan Stanley
Participatiemeldingen van Morgan Stanley Persbericht Gereglementeerde informatie Brussel, 20 januari 2026 - 17u45 CET In overeenstemming met de Belgische transparantiewetgeving (Wet van 2 mei 2007) heeft Morgan Stanley onlangs de volgende transparantiekennisgevingen naar Solvay gestuurd om aan te geven dat ze de drempel van 3% heeft overschreden. Hier is een samenvatting van de bewegingen: Datum waarop de drempel werd overschredenStemrechtenAan stemrechten gelijkgestelde financiële instrumentenTotaal23 december 20250,00%-0,00%9 ja...
Participation notification by Morgan Stanley
Participation notification by Morgan Stanley Press release Regulated information Brussels, January 6, 2026, 17:45 CET In line with Belgian transparency legislation (Law of May 2, 2007), Morgan Stanley recently sent to Solvay the following transparency notification indicating that they crossed the threshold of 3%. Here is a summary of the notification Voting rights after the transactionEquivalent financial instruments after the transactionTotalPrevious0.13%3.17%3.30%New0.00%-0.00% The notification, dated December 31, 2025...
Notification de participation par Morgan Stanley
Notification de participation par Morgan Stanley Communiqué de presse Information réglementée Bruxelles, le 6 janvier 2026 - 17h45 CET Conformément à la législation et réglementation en matière de transparence financière (loi du 2 mai 2007), Morgan Stanley a envoyé récemment à Solvay la notification de transparence suivante indiquant avoir franchi le seuil de 3%. Voici un résumé de la notification: Droits de vote après la transaction Instruments financiers équivalents après la transaction Tota...
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