reports
- Bruno Cavalier
- Emira Sagaama
- Louis Boujard
- CFA
- Philippe Ourpatian
DHL DHL GROUP
AXA AXA
AKRBP AKER BP ASA
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
UBI UBISOFT ENTERTAINMENT SA
JMT JERONIMO MARTINS SGPS S.A.
SU SCHNEIDER ELECTRIC SE
AMUN AMUNDI SA
ELE ENDESA S.A.
GEBN GEBERIT AG
ORSTED ORSTED
NXT NEXT PLC
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
AMP AMPLIFON S.P.A.
01913 PRADA S.P.A.
REP REPSOL SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
KGX KION GROUP AG
MAP MAPFRE SA
SKF B SKF AB CLASS B
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
INGA ING GROEP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
SIE SIEMENS AG
ARGX ARGEN-X SE
STM STMICROELECTRONICS NV
KBX KNORR-BREMSE AG
STLA STELLANTIS N.V.
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
- Bruno Cavalier
- Emira Sagaama
- Louis Boujard
- CFA
- Philippe Ourpatian
DHL DHL GROUP
AXA AXA
AKRBP AKER BP ASA
LUFTHANSA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
FP TOTAL SE
UBI UBISOFT ENTERTAINMENT SA
JMT JERONIMO MARTINS SGPS S.A.
SU SCHNEIDER ELECTRIC SE
AMUN AMUNDI SA
ELE ENDESA S.A.
GEBN GEBERIT AG
ORSTED ORSTED
NXT NEXT PLC
AIR AIRBUS SE
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
AMP AMPLIFON S.P.A.
01913 PRADA S.P.A.
REP REPSOL SA
GAS NATURGY ENERGY GROUP S.A.
ARCAD ARCADIS NV
FDR FLUIDRA S.A.
KGX KION GROUP AG
MAP MAPFRE SA
SKF B SKF AB CLASS B
PRY PRYSMIAN S.P.A.
WLN WORLDLINE SA
INGA ING GROEP NV
ABI ANHEUSER-BUSCH INBEV SA/NV
SIE SIEMENS AG
ARGX ARGEN-X SE
STM STMICROELECTRONICS NV
KBX KNORR-BREMSE AG
STLA STELLANTIS N.V.
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
- Andreas Riemann
NEXT plc : Some 8% growth in Q3, raising FY profit target slightly
>Online driving top-line growth, more optimistic on Q4 - Yesterday morning, Next provided a trading statement for Q3 (August-October) which we think was positive. The full price business (c. 80% of total sales) rose 7.6% y-o-y for Q3. While there is no consensus, we think this should be broadly in line with expectations. We did actually expect some 8-9% growth. Why? Next already stated that full price sales in the first six weeks of the quarter (August to mid-Septembe...
Next: 1 director
A director at Next sold 26,523 shares at 9,879p 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 years clearly showing Clos...
- Olfa Taamallah
- Yan Derocles
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 09/26/2024
‘Soft landing’... the term is in vogue and we think it aptly describes the current situation in the energy market. After a period of “excess profits”, the fundamentals are back in favour and prompt us to revise down our estimates for energy prices. - Alongside renewable energies, pockets of sustainable value creation are emerging for players capable of capitalising on the structural growth in volatility on the electricity markets but which are nonetheless trading at a discount In the U...
UBI UBISOFT ENTERTAINMENT SA
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
SW SODEXO SA
EN BOUYGUES SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
COLR ETABLISSEMENTEN FRANZ COLRUYT N.V.
GAMA GAMMA COMMUNICATIONS
FII LISI SA
NXT NEXT PLC
BAS BASF SE
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
HM B H&M HENNES & MAURITZ AB CLASS B
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
LDO LEONARDO SPA
SIE SIEMENS AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
FDJ LA FRANCAISE DES JEUX SA
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
SHEL SHELL PLC
LAT LATECOERE
R3NK RENK GROUP AG
- Olfa Taamallah
- Yan Derocles
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 26/09/2024
“Soft landing”… le terme est à la mode et nous pensons qu’il caractérise bien la situation du marché de l’énergie aujourd’hui. Après une parenthèse de « surprofits », les fondamentaux reprennent leur droit et nous conduisent à réviser en baisse nos hypothèses de prix de l’énergie. A côté du renouvelable, des poches pérennes de création de valeur apparaissent pour les acteurs capables de profiter de la croissance structurelle de la volatilité des marchés électriques et qui souffrent ma...
UBI UBISOFT ENTERTAINMENT SA
RR. ROLLS-ROYCE HOLDINGS PLC
ETL EUTELSAT COMMUNICATIONS SA
SESGL SES SA FDR (CLASS A)
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
MTX MTU AERO ENGINES AG
ORA ORANGE SA
HO THALES SA
SW SODEXO SA
EN BOUYGUES SA
FGA FIGEAC AERO SA
UTDI UNITED INTERNET AG
RHM RHEINMETALL AG
COLR ETABLISSEMENTEN FRANZ COLRUYT N.V.
GAMA GAMMA COMMUNICATIONS
FII LISI SA
NXT NEXT PLC
BAS BASF SE
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
BA. BAE SYSTEMS PLC
HM B H&M HENNES & MAURITZ AB CLASS B
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
LDO LEONARDO SPA
SIE SIEMENS AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
FDJ LA FRANCAISE DES JEUX SA
HAG HENSOLDT AG
AERO MONTANA AEROSPACE AG
AM DASSAULT AVIATION
SHEL SHELL PLC
LAT LATECOERE
R3NK RENK GROUP AG
- Andreas Riemann
NEXT plc : H1 2024 results confirm resilience of NEXT’ fashion busines...
>H1 results in line, raising profit outlook for FY - Last week, NEXT reported final results for H1 2024 (quarter ended in July) after already releasing preliminary numbers in August. Group sales increased 8% y-o-y with the full price business growing 4%. In terms of channels, Online (+7%) outgrew Retail (-2%) again. Moreover, Finance (+5%) and Total Platform (+25%) did well. Within Online, the Overseas business (+23% for full price) grew particularly fast. Profit bef...
- Andreas Riemann
- Andreas Riemann
- Andreas Riemann
NEXT plc : Better Q2 sales, raising the FY profit target slightly
>Q2 sales above expectations, strong growth in Overseas online business - Last week Next reported better-than-expected sales for Q2 which is the quarter ending in July 2024. In Q2, full price sales were up 3.2% y-o-y, exceeding the company’s expectations. Given the exceptional summer last year, Next was forecasting flat full price sales. Full price sales in the UK (Online and Retail combined) were only slightly ahead of expectations (up 0.4%), but Overseas sales onlin...
- MarketLine Department
N Brown Group plc - Company Profile and SWOT Analysis
Summary N Brown Group plc - Company Profile and SWOT Analysis, is a source of comprehensive company data and information. The report covers the company's structure, operation, SWOT analysis, product and service offerings and corporate actions, providing a 360˚ view of the company. Key Highlights N Brown Group plc (N Brown Group) is a multi-channel fashion retailer that offers apparel for women and men, footwear, accessories, and home and gift products. The company markets and sells these prod...
Moody's Ratings affirms NEXT Group's Baa2 ratings; outlook changed to ...
Moody's Ratings, (Moody's) has today affirmed the Baa2 long-term issuer rating of NEXT Group plc (NEXT or the company). The rating agency has also affirmed the company's backed senior unsecured and senior unsecured ratings at Baa2. The outlook was changed to positive from stable. The rating action...
- Andreas Riemann
NEXT plc : Strong in the UK but limited prospects for growth and margi...
NEXT can claim the leading position in the UK fashion category. Moreover, the company managed the transition from offline to online comparatively well. However, top-line growth should remain at 4% a year until 2026 as the business outside the UK is too small. The operating margin should decrease 40bp to 17.6% on higher wages and general Opex inflation. We initiate coverage with a Neutral rating and a TP of 8,900p (based on a peer group and DCF). - >Leading fashion retail...
- Liberum Research Team
- Adam Tomlinson
- Anubhav Malhotra
- Wayne Brown
LIBERUM: Next - 1Q’24 ahead of guidance; remains a clear winner
1Q’24 trading was ahead of the group’s expectations with full price sales down -0.7% yoy vs. guidance of -2.0%. Next remains cautious though on guidance as it worries some of the beat may just be a pull forward of demand from 2Q. FY’24E guidance has been maintained for full price sales to decline -1.5% and adj. PBT to decline -10.7% (we forecast -7.5%). NEXT intends to pay £250m in dividends and up to £220m in buybacks in FY’24E, implying a 5.5% cash return. We remain optimistic on NEXT’s prospe...
- Liberum Research Team
- Adam Tomlinson
- Anubhav Malhotra
- Wayne Brown
LIBERUM: Next - More optimistic than any time in the recent past
FY’23 results came in slightly ahead of guidance driven by better retail store performance and clearance rates in January. FY’24E has started in line with expectations. Full price sales in the first 8 weeks down -2.0%. The group has maintained guidance for FY’24E; full price sales to decline -1.5% and adj. PBT to decline -10.7% (we forecast -7.5%). NEXT still intends to pay £250m in dividends and £220m in buybacks in FY’24E, implying a 5.5% cash return. The group’s big picture outlook highlights...
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