Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Nemak, Telenet, Lowell, AMS Osram, evoke, Atalian, Maxeda, TUI, Morrisons

Lucror Analytics - Morning Views Europe

In today's Morning Views publication we comment on developments of the following high yield issuers: Sappi, Telecom Italia, Telenet, Mahle, Seche Environnement, Crown Holdings

Morning Notes : EVS BB, SEQUA BB, ECMPA NA

: EVS BB, SEQUA BB, ECMPA NA

Morning Notes : SEQUA BB

: SEQUA BB

Sequana Medical New DSR patent improves value of program

Sequana announces granting of a key additional methods and formulation patent for DSR. This patent increases durability and expands protection of Sequana's DSR IP, thereby improving its value. We note that the patent provides additional time for Sequana to secure dedicated financing to advance DSR toward the randomized controlled portion of the MOJAVE clinical study. We reiterate our BUY rating.

Morning Notes : ACKB BB, AKZA NA, IBAB BB, ONTEX BB, SEQUA BB, XIOR BB...

: ACKB BB, AKZA NA, IBAB BB, ONTEX BB, SEQUA BB, XIOR BB, DEME BB, ARG FP, ZEAL DC

Sequana Medical Announces first US sale of the alfapump

Sequana reported the first US commercial alfapump implant at Mount Sinai Hospital in New York. This important milestone shows the demand for the alfapump in the US. We adjust our TP from € 2.8 to € 2.7 to reflect the new share count and reiterate our BUY rating.

Morning Notes : BESI NA, EVS BB, FAGR BB, IVA FP, MONT BB, SEQUA BB, O...

: BESI NA, EVS BB, FAGR BB, IVA FP, MONT BB, SEQUA BB, ONWD BB

3Q25 results: Telenet, VodafoneZiggo, Virgin Media O2/Better than fear...

VodafoneZiggo, Telenet and Virgin Media O2 presented mixed results over 3Q25. Fortunately, KPIs are improving somewhat. Given the competitive end markets, our conviction to buy or sell the notes of any of the three companies remains low. Leverage remained stable QoQ. Nevertheless, we still see upside to the VMED and ZIGGO notes if either Vodafone or Telefonica were to acquire full ownership of their joint ventures or if the businesses where to IPO.

Europe HY Trade Book - Media & Communications - Lucror Analytics

The Europe HY Trade Book - Media & Communications includes current trade recommendations drawn from our European HY media & communications coverage universe, along with relative-value scatter plots and a peer table. 

Morning Notes : ABI BB, ASML NA, BAR BB, OPTI BB, HEIA NA, IVA FP, PRO...

: ABI BB, ASML NA, BAR BB, OPTI BB, HEIA NA, IVA FP, PROX BB, SEQUA BB, MRUS US

Telenet - ESG Report - Lucror Analytics

Morning Notes : ACKB BB, COLR BB, DSFIR NA, FAGR BB, HYL BB, SEQUA BB,...

: ACKB BB, COLR BB, DSFIR NA, FAGR BB, HYL BB, SEQUA BB, TWEKA NA, DEME BB

Life Sciences Conference 25 Sep 2025

KBC Securities will host its annual life sciences conference on 25 September in Brussels. The event will include 14 exciting companies, both public and private, from the BeNeLux ecosystem and beyond. In this conference note, we provide an overview of the attending companies, as well as an outlook on KBC Securities' life sciences broader coverage.

Coffee, Croissants & Credit/Inmobiliaria Colonial, Benelux TMT Credits

Real Estate: Inmobiliaria Colonial was back in the market with a green bond; TMT: Benelux TMT Credits - How's it going? Where's the value?

Benelux TMT Credits: How's it going? Where's the value?

These are exciting times in the Benelux TMT markets. In this new Benelux Credit TMT report we discuss the most attractive corporate bonds in the Benelux and wider TMT space and provide insights into the key developments driving the Dutch broadband market. We also discuss recent developments of the names under our coverage: ASML, SES, KPN, Proximus, VodafoneZiggo, Telenet, Wolters Kluwer and RELX. The latter section comes from previously published Flash Notes and have been updated where needed.

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 09/05/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 05/09/2025

Greenyard N.V. : Termination of coverage of Greenyard N.V.

2Q25 Results: Telenet, VodafoneZiggo, Virgin Media O2/A strategic pivo...

The 2Q25 earnings of VodafoneZiggo, Telenet and Virgin Media O2[de] continue to look soft. Interestingly, a network carve-out in the UK now seems off the table, while Liberty Global is working to unlock the intrinsic value of its separate businesses through divestitures, as they have done with Sunrise. Nevertheless, 2Q25 performance was underwhelming and our conviction to buy or sell the notes is low. Despite stable QoQ leverage, we see limited value in current spreads. Nevertheless, there is st...