reports
- Jerôme Bodin
Ströer SE & Co. KGaA : The trend remains very strong, pending the grou...
We organised a two-day roadshow with management in London and Paris. This event shows that the operational trend remains very strong for OOH, and we reiterate our organic growth estimate of 9% in 2025. Ströer remains an exception in terms of advertising growth in Europe. Negotiations for the divestment of this division (plus digital) are still ongoing but are complex. An outcome in 2025 seems credible to us and we remain convinced that a gradual dismantling of Ströer should take place. These two...
- Jerôme Bodin
Ströer SE & Co. KGaA : La tendance reste très bonne, en attendant la r...
Nous avons organisé un roadshow de 2 jours avec le management à Londres et Paris. Il ressort de cet événement que la tendance opérationnelle reste très bonne sur l’OOH et nous réitérons notre estimation de croissance organique de 9% pour 2025e. Ströer reste une exception de croissance publicitaire en Europe. Les négociations pour la cession de ce pôle (+ le digital) sont toujours en cours mais sont complexes. Une issue en 2025 nous semble crédible et nous restons convaincus qu’un démantèlement p...
- Ahmed Ben Salem
- Baptiste Lebacq
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
ALFOC FOCUS HOME INTERACTIVE SA
NK IMERYS SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
ATO ATOS SE
OUT1V OUTOKUMPU OYJ
BFIT BASIC-FIT NV
SSAB A SSAB AB CLASS A
EVT EVOTEC SE
FGA FIGEAC AERO SA
SZG SALZGITTER AG
WHA WERELDHAVE N.V.
GOE GROUPE GORGE SA
GLO GL EVENTS SA
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
ICAD ICADE SA
SUN SULZER AG
NDA AURUBIS AG
SLIGR SLIGRO FOOD GROUP N.V.
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
SAX STROEER SE & CO. KGAA
CON CONZZETA AG
11B 11 BIT STUDIOS S.A.
SIFG SIF HOLDING NV
RIO RIO TINTO PLC
MAU ETABLISSEMENTS MAUREL & PROM SA
FTG111 FLATEXDEGIRO AG
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
NSI NSI N.V.
THEP THERMADOR HOLDING SA
DSC1 DUTCH STAR C SHAR
FAST FASTNED
WINE PURCARI WINERIES PCL
OVH OVH GROUPE
ALVGO VOGO SA
MFEA MEDIASET NV
PLX PLUXEE NV
ORP ORPEA
- Ahmed Ben Salem
- Baptiste Lebacq
TKA THYSSENKRUPP AG
MT ARCELORMITTAL SA
BEKB BEKAERT SA
ALFOC FOCUS HOME INTERACTIVE SA
NK IMERYS SA
AAL ANGLO AMERICAN PLC
APAML APERAM SA
ATO ATOS SE
OUT1V OUTOKUMPU OYJ
BFIT BASIC-FIT NV
SSAB A SSAB AB CLASS A
FGA FIGEAC AERO SA
SZG SALZGITTER AG
WHA WERELDHAVE N.V.
GOE GROUPE GORGE SA
GLO GL EVENTS SA
VOE VOESTALPINE AG
ACX ACERINOX SA
ERA ERAMET SA
ICAD ICADE SA
SUN SULZER AG
NDA AURUBIS AG
SLIGR SLIGRO FOOD GROUP N.V.
AALB AALBERTS N.V.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
SAX STROEER SE & CO. KGAA
CON CONZZETA AG
11B 11 BIT STUDIOS S.A.
SIFG SIF HOLDING NV
RIO RIO TINTO PLC
MAU ETABLISSEMENTS MAUREL & PROM SA
FTG111 FLATEXDEGIRO AG
BHP BHP GROUP LTD
AMAG AMAG AUSTRIA METALL AG
NSI NSI N.V.
THEP THERMADOR HOLDING SA
DSC1 DUTCH STAR C SHAR
FAST FASTNED
WINE PURCARI WINERIES PCL
OVH OVH GROUPE
ALVGO VOGO SA
MFEA MEDIASET NV
PLX PLUXEE NV
ORP ORPEA
- Emira Sagaama
- Jerôme Bodin
- Margaux van Oerle
- Stephane Houri
- Thomas Zlowodzki
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
RNO RENAULT SA
EO FAURECIA SA
DAI DAIMLER AG
POM PLASTIC OMNIUM SE
ZVTG ZAVAROVALNICA TRIGLAV D.D.
DEC JCDECAUX SA
TYRES NOKIAN RENKAAT OYJ
VIV VIVENDI SE
PSM PROSIEBENSAT.1 MEDIA SE
MTU MANITOU BF SA
FR VALEO SE
BON BONDUELLE SCA
VOW3 VOLKSWAGEN AG PREF
SAVE SAVENCIA SA
CIE CIE AUTOMOTIVE S.A.
KENDR KENDRION NV
SAX STROEER SE & CO. KGAA
POST OSTERREICHISCHE POST AG
RENE REDES ENERGETICAS NACIONAIS SA
POSR POZAVAROVALNICA SAVA
SPIE SPIE SA
RACE FERRARI NV
COPN COSMO PHARMACEUTICALS NV
PIRC PIRELLI & C. S.P.A.
GEST GESTAMP AUTOMOCION S.A.
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
STLA STELLANTIS N.V.
ECMPA EUROCOMMERCIAL PROPERTIES NV
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SHUR SHURGARD SELF STORAGE LIMITED
ALIV SDB AUTOLIV INC.
BRE BREMBO S.P.A.
- Emira Sagaama
- Jerôme Bodin
- Margaux van Oerle
- Stephane Houri
- Thomas Zlowodzki
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
RNO RENAULT SA
EO FAURECIA SA
DAI DAIMLER AG
POM PLASTIC OMNIUM SE
DEC JCDECAUX SA
TYRES NOKIAN RENKAAT OYJ
VIV VIVENDI SE
PSM PROSIEBENSAT.1 MEDIA SE
MTU MANITOU BF SA
FR VALEO SE
BON BONDUELLE SCA
VOW3 VOLKSWAGEN AG PREF
SAVE SAVENCIA SA
CIE CIE AUTOMOTIVE S.A.
KENDR KENDRION NV
SAX STROEER SE & CO. KGAA
POST OSTERREICHISCHE POST AG
RENE REDES ENERGETICAS NACIONAIS SA
POSR POZAVAROVALNICA SAVA
SPIE SPIE SA
RACE FERRARI NV
COPN COSMO PHARMACEUTICALS NV
PIRC PIRELLI & C. S.P.A.
GEST GESTAMP AUTOMOCION S.A.
AML ASTON MARTIN LAGONDA GLOBAL HOLDINGS
STLA STELLANTIS N.V.
ECMPA EUROCOMMERCIAL PROPERTIES NV
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SHUR SHURGARD SELF STORAGE LIMITED
ALIV SDB AUTOLIV INC.
BRE BREMBO S.P.A.
- Jerôme Bodin
- Jerôme Bodin
- Baptiste Salaville
- Bruno Cavalier
- Charlotte Vaisse
- Jerôme Bodin
FME FRESENIUS MEDICAL CARE AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
1COV COVESTRO AG
FRA FRAPORT AG
TKA THYSSENKRUPP AG
WCH WACKER CHEMIE AG
ADS ADIDAS AG
G1A GEA GROUP AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
MTX MTU AERO ENGINES AG
CBK COMMERZBANK AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
GBF BILFINGER SE
RHM RHEINMETALL AG
LXS LANXESS AG
GXI GERRESHEIMER AG
EL ESSILORLUXOTTICA SA
KCO KLOECKNER & CO SE
PSM PROSIEBENSAT.1 MEDIA SE
BRBY BURBERRY GROUP PLC
MRK MERCK KGAA
KER KERING SA
BOSS HUGO BOSS AG
SDF K+S AG
NOEJ NORMA GROUP SE
FR VALEO SE
PNL POSTNL NV
BAS BASF SE
BAYN BAYER AG
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
01913 PRADA S.P.A.
CFEB COMPAGNIE D'ENTREPRISES CFE SA
DEZ DEUTZ AG
AIXA AIXTRON SE
KRN KRONES AG
NEM NEMETSCHEK SE
SAX STROEER SE & CO. KGAA
EVK EVONIK INDUSTRIES AG
KGX KION GROUP AG
MONC MONCLER SPA
BNR BRENNTAG SE
FYB FORMYCON AG
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
JUN3 JUNGHEINRICH AG PREF
DUE DURR AG
JST JOST WERKE AG
SHL SIEMENS HEALTHINEERS AG
S92 SMA SOLAR TECHNOLOGY AG
JEN JENOPTIK AG
KBX KNORR-BREMSE AG
HAG HENSOLDT AG
NXFIL NX FILTRATION HLDG BV
FPE3 FUCHS PETROLUB SE
DTG DAIMLER TRUCK
STM STABILUS SE
TUI TUI AG
SCHOTT PHARMA AG
R3NK RENK GROUP AG
QGEN QIAGEN N.V.
SHA SCHAEFFLER AG
- Baptiste Salaville
- Bruno Cavalier
- Jerôme Bodin
FME FRESENIUS MEDICAL CARE AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
1COV COVESTRO AG
FRA FRAPORT AG
TKA THYSSENKRUPP AG
WCH WACKER CHEMIE AG
ADS ADIDAS AG
G1A GEA GROUP AG
SLB.N SCHLUMBERGER NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ROG ROCHE HOLDING LTD
MTX MTU AERO ENGINES AG
CBK COMMERZBANK AG
HO THALES SA
NOVN NOVARTIS AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
GBF BILFINGER SE
RHM RHEINMETALL AG
LXS LANXESS AG
GXI GERRESHEIMER AG
EL ESSILORLUXOTTICA SA
KCO KLOECKNER & CO SE
PSM PROSIEBENSAT.1 MEDIA SE
BRBY BURBERRY GROUP PLC
MRK MERCK KGAA
KER KERING SA
BOSS HUGO BOSS AG
SDF K+S AG
NOEJ NORMA GROUP SE
BAS BASF SE
SAN SANOFI
BAYN BAYER AG
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
01913 PRADA S.P.A.
DEZ DEUTZ AG
AIXA AIXTRON SE
KRN KRONES AG
NEM NEMETSCHEK SE
SAX STROEER SE & CO. KGAA
EVK EVONIK INDUSTRIES AG
KGX KION GROUP AG
MONC MONCLER SPA
BNR BRENNTAG SE
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
JUN3 JUNGHEINRICH AG PREF
AZN ASTRAZENECA PLC
DUE DURR AG
JST JOST WERKE AG
SHL SIEMENS HEALTHINEERS AG
S92 SMA SOLAR TECHNOLOGY AG
JEN JENOPTIK AG
KBX KNORR-BREMSE AG
HAG HENSOLDT AG
STLA STELLANTIS N.V.
FPE3 FUCHS PETROLUB SE
DTG DAIMLER TRUCK
GSK GSK PLC
STM STABILUS SE
TUI TUI AG
NOVO B NOVO NORDISK A/S
SCHOTT PHARMA AG
R3NK RENK GROUP AG
AGN AEGON N.V.
QGEN QIAGEN N.V.
CVC CVC CAPITAL PARTNERS PLC
SHA SCHAEFFLER AG
- Baptiste Salaville
- Bruno Cavalier
- Jerôme Bodin
FME FRESENIUS MEDICAL CARE AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
1COV COVESTRO AG
FRA FRAPORT AG
TKA THYSSENKRUPP AG
WCH WACKER CHEMIE AG
ADS ADIDAS AG
G1A GEA GROUP AG
SLB.N SCHLUMBERGER NV
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ROG ROCHE HOLDING LTD
MTX MTU AERO ENGINES AG
CBK COMMERZBANK AG
HO THALES SA
NOVN NOVARTIS AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
GBF BILFINGER SE
RHM RHEINMETALL AG
LXS LANXESS AG
GXI GERRESHEIMER AG
EL ESSILORLUXOTTICA SA
KCO KLOECKNER & CO SE
PSM PROSIEBENSAT.1 MEDIA SE
BRBY BURBERRY GROUP PLC
MRK MERCK KGAA
KER KERING SA
BOSS HUGO BOSS AG
SDF K+S AG
NOEJ NORMA GROUP SE
BAS BASF SE
SAN SANOFI
BAYN BAYER AG
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
01913 PRADA S.P.A.
DEZ DEUTZ AG
AIXA AIXTRON SE
KRN KRONES AG
NEM NEMETSCHEK SE
SAX STROEER SE & CO. KGAA
EVK EVONIK INDUSTRIES AG
KGX KION GROUP AG
MONC MONCLER SPA
BNR BRENNTAG SE
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
JUN3 JUNGHEINRICH AG PREF
AZN ASTRAZENECA PLC
DUE DURR AG
JST JOST WERKE AG
SHL SIEMENS HEALTHINEERS AG
S92 SMA SOLAR TECHNOLOGY AG
JEN JENOPTIK AG
KBX KNORR-BREMSE AG
HAG HENSOLDT AG
STLA STELLANTIS N.V.
FPE3 FUCHS PETROLUB SE
DTG DAIMLER TRUCK
GSK GSK PLC
STM STABILUS SE
TUI TUI AG
NOVO B NOVO NORDISK A/S
SCHOTT PHARMA AG
R3NK RENK GROUP AG
AGN AEGON N.V.
QGEN QIAGEN N.V.
CVC CVC CAPITAL PARTNERS PLC
SHA SCHAEFFLER AG
- Baptiste Salaville
- Charlotte Vaisse
- Jerôme Bodin
FME FRESENIUS MEDICAL CARE AG
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
1COV COVESTRO AG
FRA FRAPORT AG
TKA THYSSENKRUPP AG
WCH WACKER CHEMIE AG
ADS ADIDAS AG
G1A GEA GROUP AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
MTX MTU AERO ENGINES AG
CBK COMMERZBANK AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
DAI DAIMLER AG
GBF BILFINGER SE
RHM RHEINMETALL AG
LXS LANXESS AG
GXI GERRESHEIMER AG
EL ESSILORLUXOTTICA SA
KCO KLOECKNER & CO SE
PSM PROSIEBENSAT.1 MEDIA SE
BRBY BURBERRY GROUP PLC
MRK MERCK KGAA
KER KERING SA
BOSS HUGO BOSS AG
SDF K+S AG
NOEJ NORMA GROUP SE
FR VALEO SE
PNL POSTNL NV
BAS BASF SE
BAYN BAYER AG
VOW3 VOLKSWAGEN AG PREF
HEN3 HENKEL AG & CO. KGAA PREF
DTE DEUTSCHE TELEKOM AG
SY1 SYMRISE AG
01913 PRADA S.P.A.
CFEB COMPAGNIE D'ENTREPRISES CFE SA
DEZ DEUTZ AG
AIXA AIXTRON SE
KRN KRONES AG
NEM NEMETSCHEK SE
SAX STROEER SE & CO. KGAA
EVK EVONIK INDUSTRIES AG
KGX KION GROUP AG
MONC MONCLER SPA
BNR BRENNTAG SE
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
JUN3 JUNGHEINRICH AG PREF
DUE DURR AG
JST JOST WERKE AG
SHL SIEMENS HEALTHINEERS AG
S92 SMA SOLAR TECHNOLOGY AG
JEN JENOPTIK AG
KBX KNORR-BREMSE AG
HAG HENSOLDT AG
NXFIL NX FILTRATION HLDG BV
FPE3 FUCHS PETROLUB SE
DTG DAIMLER TRUCK
STM STABILUS SE
TUI TUI AG
SCHOTT PHARMA AG
R3NK RENK GROUP AG
QGEN QIAGEN N.V.
SHA SCHAEFFLER AG
- Bruno Cavalier
- Jerôme Bodin
- Stephane Houri
IPS IPSOS
LHA DEUTSCHE LUFTHANSA AKTIENGESELLSCHAFT
GET GETLINK SE
FRA FRAPORT AG
ELIOR ELIOR GROUP SA
DG VINCI SA
ALESK ESKER SA
BEKB BEKAERT SA
DB1 DEUTSCHE BOERSE AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
LI KLEPIERRE SA
COV COVIVIO SA
FGR EIFFAGE SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SBMO SBM OFFSHORE NV
MF WENDEL SE
EN BOUYGUES SA
F3C SFC ENERGY AG
STF STEF
INF INFOTEL SA
SCR SCOR SE
DEC JCDECAUX SA
ASY ASSYSTEM SA
EL ESSILORLUXOTTICA SA
IAG INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA
PSM PROSIEBENSAT.1 MEDIA SE
COLR ETABLISSEMENTEN FRANZ COLRUYT N.V.
BRBY BURBERRY GROUP PLC
FII LISI SA
GOE GROUPE GORGE SA
KER KERING SA
ALTA ALTAREA SCA
VNA VONOVIA SE
ZAL ZALANDO SE
ERA ERAMET SA
ICAD ICADE SA
01913 PRADA S.P.A.
IMPN IMPLENIA AG
REP REPSOL SA
SOI SOITEC SA
COR CORTICEIRA AMORIM SGPS SA
RAA RATIONAL AG
DOKA DORMAKABA HOLDING AG
DLG DE'LONGHI S.P.A.
SAX STROEER SE & CO. KGAA
MONC MONCLER SPA
ONTEX ONTEX GROUP N.V.
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
CSM CORBION NV
COFA COFACE SA
HBH HORNBACH HOLDING AG & CO. KGAA
XFAB X-FAB SILICON FOUNDRIES SE
JEN JENOPTIK AG
VRLA VERALLIA SAS
ALG ALLEGRO.EU SA
INPST INPOST S.A.
FPE3 FUCHS PETROLUB SE
ALAFY AFYREN
AM DASSAULT AVIATION
CTPNV CTP NV
EAPI EUROAPI
DEME DEME GROUP NV
FLE PEGASUS ENTREPRENEURIAL ACQUISITION CO EURO BV
SHUR SHURGARD SELF STORAGE LIMITED
AF AIR FRANCE - KLM
VIRI VIRIDIEN
CAN CANAL+
- Emmanuel Matot
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
F3C SFC ENERGY AG
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
SOI SOITEC SA
SAX STROEER SE & CO. KGAA
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
- Jerôme Bodin
- Jerôme Bodin
- Thijs Berkelder
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - Date1
We initiate coverage of Heijmans, a contractor focused on the Dutch market, with an Outperform rating and a TP of € 36.5 (DCF based). The Dutch residential market is finally recovering, and we believe Heijmans is well-positioned to benefit due to its land bank and property development arm, driving up revenues while EBITDA margins are expected to exceed 8.5% in the Living unit. Heijmans is also benefitting from strong demand from the infrastructure and energy markets, allowing for soli...
PBB DEUTSCHE PFANDBRIEFBANK AG
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
ITP INTERPARFUMS
SDF K+S AG
NEX NEXANS SA
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ADN1 ADESSO AG
GNFT GENFIT SA
PAT PATRIZIA AG
SAX STROEER SE & CO. KGAA
NVG NAVIGATOR COMPANY SA
ASS APPLUS SERVICES S.A.
S92 SMA SOLAR TECHNOLOGY AG
CLA CLARANOVA SE
SRAIL STADLER RAIL AG
KTA KNAUS TABBERT
UPG UNIFIEDPOST GROUP
DEME DEME GROUP NV
AF AIR FRANCE - KLM
- Thijs Berkelder
- Usama Tariq
ODDO BHF Small & MIDCAP MORNING NEWS - 11/14/2024
We initiate coverage of Heijmans, a contractor focused on the Dutch market, with an Outperform rating and a TP of € 36.5 (DCF based). The Dutch residential market is finally recovering, and we believe Heijmans is well-positioned to benefit due to its land bank and property development arm, driving up revenues while EBITDA margins are expected to exceed 8.5% in the Living unit. Heijmans is also benefitting from strong demand from the infrastructure and energy markets, allowing for soli...
PBB DEUTSCHE PFANDBRIEFBANK AG
GBF BILFINGER SE
GYC GRAND CITY PROPERTIES SA
ITP INTERPARFUMS
SDF K+S AG
NEX NEXANS SA
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ADN1 ADESSO AG
GNFT GENFIT SA
PAT PATRIZIA AG
SAX STROEER SE & CO. KGAA
NVG NAVIGATOR COMPANY SA
ASS APPLUS SERVICES S.A.
JST JOST WERKE AG
S92 SMA SOLAR TECHNOLOGY AG
CLA CLARANOVA SE
SRAIL STADLER RAIL AG
KTA KNAUS TABBERT
UPG UNIFIEDPOST GROUP
DEME DEME GROUP NV
AF AIR FRANCE - KLM
- Jerôme Bodin
Ströer SE & Co. KGaA : The trend remains robust despite a slightly mor...
>Outperform rating maintained - The group reported its Q3 results yesterday and held a conference call afterwards. The message on the advertising trend was confident, even though a slight sequential slowdown is likely in Q4 given the general context. The guidance remains very robust for OOH (high single digit growth) but we tweak our expectations for Q4 in view of the general situation. Moreover, the fall in revenues for Asam was slightly more marked than we anticipa...
- Jerôme Bodin
Ströer SE & Co. KGaA : Une tendance toujours solide malgré un environn...
>Opinion Surperformance réitérée - Le groupe a publié hier ses résultats T3 et a tenu sa conférence téléphonique dans la foulée. Le message a été confiant sur la tendance publicitaire, même si un petit ralentissement séquentiel au T4 est probable au regard du contexte général. La guidance reste très solide pour l’OOH (high single digit) mais nous ajustons légèrement nos attentes sur le T4 au regard de cette situation générale. Par ailleurs, la baisse de l’activité As...
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