ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/25/2026

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 25/02/2026

Adecco : Strong results with financial leverage finally coming down

Ahold Delhaize/FY25 results: resilient profitability in the US/HOLD

We reiterate our HOLD rating on Ahold Delhaize, but increase our target price from €34.0 to €40.0, on the back of a stronger-than-expected 4Q25. We expect Ahold Delhaize's top-line growth to continue to be driven by its eCommerce activities, especially in the US where we model sales CAGR in the mid-teens over 2025-28F. This would allow the company to deliver a low-single-digit comparable sales growth at group level. Ahold Delhaize will account for a 53rd week this fiscal year, and we therefore p...

AI Power Semis: How are market shares trending?

Market share in AI power semiconductors has evolved rapidly over the past three years. In today’s one-slider, we review how share has shifted and assess how AI contributes to Infineon’s growth going forward.

Infineon Technologies AG: 1 director

A director at Infineon Technologies AG sold 2,500 shares at 45.940EUR and the significance rating of the trade was 59/100. 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...

Auto & industrial Cycle; WFE in 2026; Besi, Palo Alto. Tech Weekly Wra...

As always, during earnings season, we wrap-up what happened in the previous week. For our main takes summarized on a single slide, and a few words on each of the 7 names we followed last week, follow the link below.

Morning Notes : AD NA, ARCAD NA, PNL NA, AZE BB

: AD NA, ARCAD NA, PNL NA, AZE BB

Ahold Delhaize Sharpening Value for Customers While Safeguarding Margi...

Earlier this month, Ahold Delhaize reported strong 4Q25 results, driven by a material margin beat in the US and impressive free cash flow generation. While the 2026 margin outlook was in line with expectations, we believe the company is well positioned to deliver on this guidance supported by the impact of the 53rd calendar week, easier comparables in Europe, and the gradual realisation of synergies from the Profi acquisition. In the US, ongoing price investments continue to drive healthy sales ...

Benelux Morning Notes

Ahold Delhaize: Peer Walmart 4Q25/26 results. Arcadis: Main topics 4Q25/FY25 conference call. ASM: 4Q25 preview, FY26 should be strong. Brunel: 4Q25 result beats and trends stabilise; DACH back to growth in 1Q26; additional cost savings announced and special dividend. Cofinimmo: Beat on bottom line, strong investment outlook for 2026. IMCD: Another step in EMEA. Magnum Ice Cream Company: Peer Danone 4Q25 results. Recticel: Peer Kingspan FY25 results. Software sector: Cheaper code...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 02/18/2026

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 18/02/2026

Ahold Delhaize N.V. : Outperform reiterated for top-in-class operator;...

Auto and industrial recovery, Semicap, Arista, Cisco, and more. Tech w...

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 17/02/2026

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 02/17/2026

Alfen : Fancy top-down trends not reflected in bottom-up performance

Alfen/Another transitional year/HOLD

Alfen reported broadly in line 4Q25 results but lowered its FY26 outlook. There is no tangible evidence of a pending volume-driven recovery in the 4Q25 performance of the Smart Grid and the EV Charging division. We increase our FY26 revenue estimate by 0.5% to the mid-point of Alfen's new revenue guidance and cut our FY26F adjusted EBITDA estimate by 6% to €26.1m. This reflects an adjusted EBITDA margin of 5.7%, slightly ahead of the company's mid-point guidance aiming for 5.5%. Management execu...

Vivendi: 1 director

A director at Vivendi sold 345,517 shares at 2.290EUR and the significance rating of the trade was 67/100. 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...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 11/02/2026