reports
- Thibault Leneeuw
ASM International Upside on FY26 estimates already reflected in the va...
We provide more colour in this note on our change in TP and recommendation following ASMi FY25 results, which were good given the improved outlook. We see upside on the FY26 estimates, yet expectations for FY27 are already high and leave little room for upside, while the valuation is also above the historical average. We derive a fair value of €658 p.s. based on our FY27 diluted EPS of € 22.1 and a PE multiple of 30x. Given the downside we reduced our recommendation this morning from Accumulate ...
- Ahmed Ben Salem
FP TOTAL SE
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
ENI ENI S.P.A.
BIG BIGBEN INTERACTIVE SA
IMPN IMPLENIA AG
REP REPSOL SA
SIX2 SIXT SE
PAL PALFINGER AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
BP. BP P.L.C.
AT1 AROUNDTOWN SA
NACON NACON SASU
SHEL SHELL PLC
EAPI EUROAPI
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
PFSE PFISTERER HOLDING SE
ARYN ARYZTA AG
SHA SCHAEFFLER AG
- Olfa Taamallah
- Yan Derocles
FP TOTAL SE
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ADS ADIDAS AG
KNIN KUEHNE & NAGEL INTERNATIONAL AG
LSEG LONDON STOCK EXCHANGE GROUP PLC
KBC KBC GROUP N.V.
BEI BEIERSDORF AG
ITRK INTERTEK GROUP PLC
ENI ENI S.P.A.
SY1 SYMRISE AG
REP REPSOL SA
ASM ASM INTERNATIONAL N.V.
ARCAD ARCADIS NV
VACN VAT GROUP AG
BP. BP P.L.C.
8TRA TRATON SE
AM DASSAULT AVIATION
SHEL SHELL PLC
- Ahmed Ben Salem
FP TOTAL SE
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
ENI ENI S.P.A.
BIG BIGBEN INTERACTIVE SA
IMPN IMPLENIA AG
REP REPSOL SA
SIX2 SIXT SE
PAL PALFINGER AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
BP. BP P.L.C.
AT1 AROUNDTOWN SA
NACON NACON SASU
SHEL SHELL PLC
EAPI EUROAPI
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
PFSE PFISTERER HOLDING SE
ARYN ARYZTA AG
SHA SCHAEFFLER AG
- Olfa Taamallah
- Yan Derocles
FP TOTAL SE
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
ADS ADIDAS AG
KNIN KUEHNE & NAGEL INTERNATIONAL AG
LSEG LONDON STOCK EXCHANGE GROUP PLC
KBC KBC GROUP N.V.
BEI BEIERSDORF AG
ITRK INTERTEK GROUP PLC
ENI ENI S.P.A.
SY1 SYMRISE AG
REP REPSOL SA
ASM ASM INTERNATIONAL N.V.
ARCAD ARCADIS NV
VACN VAT GROUP AG
BP. BP P.L.C.
8TRA TRATON SE
AM DASSAULT AVIATION
SHEL SHELL PLC
- Manuel Martin
- CEFA
- CREA
- Jan Frederik Slijkerman
- Jeroen van den Broek
- Jesse Norcross
- Nadège Tillier
- Timothy Rahill
- ING Helpdesk
Benelux Morning Notes
Aedifica and Cofinimmo: Aedifica acquires c.80% of the shares in Cofinimmo. ASM International: 4Q25 results; strong FY26 guidance. D'Ieteren: Bloomberg reports on Belron IPO, valuation above $30bn, close to $40bn. dsm-firmenich: Symrise 2025 results and guidance. Kinepolis: Feb reassures - US box office revenue up +1% YoY, France visitors up +25% YoY. KPN: Odido data breach
- Jacob Mekhael
- Lynn Hautekeete
- Michiel Declercq
- Thibault Leneeuw
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
Bouygues: 2 directors
Two Directors at Bouygues sold after exercising options/sold 10,340 shares at between 52.327EUR and 53.000EUR. The significance rating of the trade was 77/100. 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 compan...
SOITEC - INFORMATION RELATING TO THE TOTAL NUMBER OF VOTING RIGHTS AN...
SOITEC - INFORMATION RELATING TO THE TOTAL NUMBER OF VOTING RIGHTS AND SHARES FORMING THE SHARE CAPITAL Bernin, on March 3, 2026 INFORMATION RELATING TO THE TOTAL NUMBER OF VOTING RIGHTS AND SHARES FORMING THE SHARE CAPITAL (Article L. 233-8 II of the French Commercial Code and article 223-16 of the General Regulation of the French financial markets authority (AMF)) Corporate name and address of the company: SOITECParc Technologique des Fontaines - Chemin des Franques 38190 Bernin (FRANCE) Statement dateTotal number of shares forming the share capitalTotal number of voting rights02/28/...
ASM reports Q4 and full-year 2025 results
ASM reports Q4 and full-year 2025 results Almere, The NetherlandsMarch 3, 2026, 6 p.m. CETDouble‑digit growth in 2025, strong 2026 ahead ASM International N.V. (Euronext Amsterdam: ASM) today reports its Q4 and full year 2025 results (unaudited). Orders of €803 million in Q4 2025 showed a solid rebound, driven by strong demand in the advanced logic/foundry market and a quarter-end recovery in demand from Chinese customers. Revenue of €698 million in Q4 2025 exceeded previous guidance of €630–660 million. Full year 2025 revenue was up 12% at constant currency, driven by advanced logic/fo...
SOITEC - INFORMATION RELATIVE AU NOMBRE TOTAL DE DROITS DE VOTE ET D’A...
SOITEC - INFORMATION RELATIVE AU NOMBRE TOTAL DE DROITS DE VOTE ET D’ACTIONS COMPOSANT LE CAPITAL SOCIAL Fait à Bernin, le 3 mars 2026 INFORMATION RELATIVE AU NOMBRE TOTAL DE DROITS DE VOTE ET D’ACTIONS COMPOSANT LE CAPITAL SOCIAL (Article L. 233-8 II du Code du commerce et article 223-16 du Règlement Général de l’Autorité des Marchés Financiers) Dénomination sociale et adresse de la société : SOITEC Parc Technologique des Fontaines - Chemin des Franques 38190 Bernin Date d’arrêté des informationsNombre d’actions composant le capital socialNombre total de droits de vote28/02/202635 ...
- Felix Fischer
- Felix Fischer
- Haidje Rustau
- Jayanth Kandalam
- Peter Low
- Tanvi Arora
STMicroelectronics’ sensor and secure wireless technologies support Sn...
STMicroelectronics’ sensor and secure wireless technologies support Snapdragon Wear Elite STMicroelectronics’ sensor and secure wireless technologiessupport Snapdragon Wear Elite AI at the edge for smarter, longer lasting, and slimmer user-centric wearablesReady-to-use solution accelerates time to market and simplifies integration Geneva, March 2, 2026 -- STMicroelectronics (NYSE: STM), a global semiconductor leader serving customers across the spectrum of electronics applications, now supports leading-edge motion-sensing and secure wireless technologies on Qualcomm Technologies’ newly la...
STMicroelectronics : Les technologies de capteurs et sans fil sécurisé...
STMicroelectronics : Les technologies de capteurs et sans fil sécurisées de STMicroelectronics prennent en charge Snapdragon Wear Elite Les technologies de capteurs et sans fil sécurisées de STMicroelectronics prennent en charge Snapdragon Wear Elite Avec l’IA embarquée, les objets portables centrés sur l’utilisateur deviennent plus intelligents, plus fins et plus durablesUne solution prête à l’emploi qui accélère le délai de mise sur le marché et simplifie l’intégration Genève, le 2 mars 2026 – STMicroelectronics (NYSE : STM), un leader mondial des semiconducteurs dont les clients couvre...
- Russell Waller
Bouygues (Buy, TP: €64, +24%) Post Q4 25 model update – Still a key B...
In this note, we update our model and thoughts following the Q4 results (HERE) incorporating conference call feedback and compare our new estimates to guidance and consensus. Our SOP goes up slightly, and we remain bullish overall
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