reports
- Aurore Aventin (IDMidCaps)
Hexaom - Downbeat start to the year in line with forecasts
Significant downturn in CMI activity in Q1 in line with our expectations, while renovation logically shows greater resilience2024 guidance confirmed, and a low point in sales seems to have been definitively reached last yearOur forecasts for 2024 and beyond are maintainedValuation multiples still low despite the nearly 15% YTD rebound in the share priceBUY opinion and target price of €35/share maintained
- Aurore Aventin (IDMidCaps)
Hexaom - A solid balance sheet that will see us through 2 complicated ...
Improved annual results, in line with expectations and the Group's best ever in absolute termsGood FCF generation and strengthened net cash position2024 will obviously be a very poor year in terms of business, but the Group's essentially variable cost structure will enable it to maintain its margin rate and thus generate cash.The Group's financial strength and size will provide it with opportunities in a crisis-ridden and highly concentrated CMI market.Buy opinion (vs. Add previou...
- Aurore Aventin (IDMidCaps)
Hexaom - Limited visibility but very low valuation multiples
Business stable in CMI in Q4, but down sharply in Renovation, Promotion and Land Development2023 and 2024 guidance confirmed, but still no visibility on a possible rebound in order intake2023 and 2024 forecasts maintainedValuation multiples still low despite share price rebound of more than 20% over the past 3 monthsADD opinion and target price of €30/share maintained
- Aurore Aventin (IDMidCaps)
Hexaom - The Group's critical mass and financial strength should enabl...
Encouraging half-year results on a proforma basis, thanks to the Group's diversified profileADC has been placed in compulsory liquidation and will be deconsolidated from the accounts (IFRS5), which automatically improves the Group's profitability and balance sheet.Good FCF generation and strengthened net cash positionPremiums for financial strength and size in a highly concentrated CMI marketAdd opinion renewed and slight increase in our target price to €30 (vs. €28 previously)
- Aurore Aventin (IDMidCaps)
Hexaom - The bad news keeps piling up, but profitability should improv...
2022 results in freefall, but no major surprises, due to B2B renovation lossesMargins should recover in 2023, thanks in particular to the pass-through of construction cost increases to orders taken in 2022 in the building sector.A good Q1 2023, but performance is mainly due to delivery delays in CMI, and order intake is still in steep declineBad news on the regulatory front with the exclusion of single-family homes from the PTZ schemeADC subsidiary (B2B renovation) placed in receivership.We are ...
- Arnaud Despre
- Clément Bassat
- Nicolas Delmas
- Nicolas Montel
- Nicolas Royot
La Matinale - 04-05-2023
LA VALEUR DU JOUR : CLASQUIN : Forte Résilience / Contact – Acheter (1), obj. 85.0€ Cours: 70.2€ au 03/05/23 AUREA : Baisse du CA T1, dans la lignée du T4 – Conserver (3), obj. 7.40€ Cours: 6.78€ au 03/05/23 BIOSENIC : Un nouveau brevet pour détecter précocement la cGvHD – Acheter (1), obj. 0.52€ Cours: 0.10€ au 03/05/23 CGG : Très bon trimestre – Conserver (3), obj. 0.80€ Cours: 0.64€ au 03/05/23 HEXAOM : La CMI démarre bien…en production – Acheter (1), obj. 34.0€ Cours: 17.9€ au 03/05/23 ...
- Arnaud Despre
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Nicolas Montel
- Nicolas Royot
- Arnaud Despre
- Augustin Socié
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Mohamed Kaabouni
- Nicolas Royot
La Matinale - 23-03-2023
LA VALEUR DU JOUR : BENETEAU : Le palier des 10% en marge déjà franchi ! / Contact – Acheter (1), obj. 23.0€ Cours: 15.9€ au 22/03/23 BASTIDE : Maintient sa guidance après un bon S1 – Acheter (1), obj. 45.0€ Cours: 32.0€ au 22/03/23 BW IDEOL : Se tourne vers l'Ademe pour son financement – Acheter (1), obj. 40.0kr Cours: 11.05kr au 22/03/23 CLASQUIN : Très bonne surprise sur les FCF – Acheter (1), obj. 75.0€ Cours: 58.2€ au 22/03/23 GUERBET : EBITDA 2022 en haut de guidance, trou d'air en 202...
HEXA HEXAOM SA
ALCLA CLASQUIN SA
INF INFOTEL SA
BEN BENETEAU SA
BLC BASTIDE LE CONFORT MEDICAL SA
IPH INNATE PHARMA SA CLASS A
VLS VALNEVA SE
NRG NRJ GROUP SA
PIG HAULOTTE GROUP SA
GBT GUERBET SA
MCPHY MCPHY ENERGY SA
ALREA REALITES SCA
RBO ROCHE BOBOIS INTERNATIONAL SAS
TXG 10X GENOMICS INC CLASS A
BWIDL BW IDEOL AS
- Arnaud Despre
- Augustin Socié
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Nicolas Delmas
- Nicolas Montel
- Nicolas Royot
MLREW REWORLD MEDIA SA
HEXA HEXAOM SA
TIPI TIPIAK S.A.
ALCLA CLASQUIN SA
INF INFOTEL SA
PHA PHARMAGEST INTERACTIVE SA
BEN BENETEAU SA
BLC BASTIDE LE CONFORT MEDICAL SA
CGM CEGEDIM SA
VIRP VIRBAC SA
VETO VETOQUINOL SA
NRG NRJ GROUP SA
PIG HAULOTTE GROUP SA
GBT GUERBET SA
CBOT CBO TERRITORIA SA
ABDP AB DYNAMICS
ALREA REALITES SCA
VLTSA VOLTALIA
RBO ROCHE BOBOIS INTERNATIONAL SAS
LHYFE LHYFE S.A.
La Matinale - 2023-02-08
LA VALEUR DU JOUR : ALCHIMIE : Arrêt du suivi Cours: 2.54€ au 07/02/23 AUREA : Ralentissement prévisible en fin d'année – Conserver (3), obj. 7.40€ Cours: 7.16€ au 07/02/23 CBO TERRITORIA : Progression des revenus locatifs, en attendant Combani – Acheter (1), obj. 4.60€ Cours: 3.68€ au 07/02/23 HERIGE : Solide croissance T4, poursuite au S1 2023 / Contact – Acheter (1), obj. 56.0€ Cours: 35.3€ au 07/02/23 HEXAOM : Le BtoB éclipse (à nouveau) tout le reste ! / Contact – Acheter (1), obj. 34.0€...
- Arnaud Despre
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Nicolas Delmas
- Nicolas Royot
- Arnaud Despre
- Augustin Socié
- Clément Bassat
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Mohamed Kaabouni
- Nicolas Montel
- Nicolas Royot
La Matinale - 2022-09-22 - Portzamparc
REWORLD MEDIA : Confirme sa résilience ! - Contact – Acheter (1), obj. 10.6€ Cours: 6.63€ au 21/09/22 DBV TECHNOLOGIES : La FDA suspend partiellement VITESSE (ph 3) avant son lancement – Acheter (1), obj. 5.60€ Cours: 4.19€ au 21/09/22 ECOSLOPS : Conformes à nos attentes – Acheter (1), obj. 14.1€ Cours: 8.74€ au 21/09/22 GUERBET : Maintient sa guidance et annonce l'approbation de Gadopiclénol par la FDA – Acheter (1), obj. 28.2€ Cours: 17.5€ au 21/09/22 HEXAOM : Le BtoB éclipse le reste – Ac...
- Arnaud Despre
- Augustin Socié
- Clément Bassat
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Nicolas Royot
- Arnaud Despre
- Mohamed Kaabouni
- Nicolas Montel
- Nicolas Royot
La Matinale - 2022-08-05 - Portzamparc
HEXAOM : Production annuelle confirmée, ADC pose problème – Contact – Acheter (1), obj. 38.5€ Cours: 28.4€ au 04/08/22 ABIVAX : Feu vert aux USA pour l'inclusion du premier patient de la phase III – Acheter (1), obj. 25.0€ Cours: 8.10€ au 04/08/22 ALBIOMA : KKR rentre au conseil d'administration – Conserver (3), obj. 50.0€ Cours: 50.0€ au 04/08/22 ENERTIME : Contrat pour un ROC de 1,1MW en Bulgarie – Acheter (1), obj. 3.10€ Cours: 1.76€ au 04/08/22 MAUREL & PROM : Forte performance opération...
- Arnaud Despre
- Jeremy Sallee
- Maxence Dhoury
- Nicolas Royot
- Arnaud Despre
- Gaetan Calabro
- Nicolas Montel
- Nicolas Royot
- Arnaud Despre
- Clément Bassat
- Maxence Dhoury
- Nicolas Montel
La Matinale - 2022-05-05 - Portzamparc
CGG : Résultats trimestriels décevants – Conserver (3) vs Acheter (1), obj. 0.81€ Cours: 1.18€ au 04/05/22 CERINNOV : 2M€ de nouvelles commandes – Acheter (1), obj. 2.00€ Cours: 1.28€ au 04/05/22 DBV TECHNOLOGIES : Le hedge fund Braidwell LP prend près de 10% du capital – Acheter (1), obj. 7.00€ Cours: 2.54€ au 04/05/22 HEXAOM : Production au top, prises de commandes en retrait – Acheter (1), obj. 53.0€ Cours: 29.3€ au 04/05/22 VILMORIN : Performance contrastée – Acheter (1), obj. 68.0€ Cou...
- Arnaud Despre
- Augustin Socié
- Gaetan Calabro
- Jeremy Sallee
- Nicolas Montel
- Nicolas Royot
- Yann de Peyrelongue
- Arnaud Despre
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Mohamed Kaabouni
- Nicolas Royot
La Matinale - 2022-03-24 - Portzamparc
REWORLD MEDIA : Bat à nouveau les attentes / Contact – Acheter (1), obj. 8.70€ Cours: 6.25€ au 23/03/22 ALCHIMIE : Lance un studio de production immersif – Conserver (3), obj. 2.90€ Cours: 2.94€ au 23/03/22 CARMAT : Le cœur a ses raisons… – Acheter (1) vs Suspendue (), obj. 27.1€ Cours: 9.24€ au 23/03/22 GTT : Engie cède 9% du capital à 90€ – Conserver (3), obj. 98.1€ Cours: 97.2€ au 23/03/22 GUERBET : Résultats 2021 en ligne, guidance fixée pour 2022 – Acheter (1) vs Conserver (3), obj. 38....
- Arnaud Despre
- Augustin Socié
- Gaetan Calabro
- Jeremy Sallee
- Maxence Dhoury
- Nicolas Royot
- Yann de Peyrelongue
MLREW REWORLD MEDIA SA
HEXA HEXAOM SA
ALCLA CLASQUIN SA
HCO HIGHCO SA
SX CS GROUP SA
BLC BASTIDE LE CONFORT MEDICAL SA
CGM CEGEDIM SA
VIRP VIRBAC SA
VETO VETOQUINOL SA
NRG NRJ GROUP SA
LACR LACROIX GROUP SA
GBT GUERBET SA
GOE GROUPE GORGE SA
ATEME ATEME SA
VLTSA VOLTALIA
RBO ROCHE BOBOIS INTERNATIONAL SAS
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