A director at Novartis AG sold 55,000 shares at 90.477CHF and the significance rating of the trade was 100/100. 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 sh...
In the run-up to the 2024 Summer Olympic Games and Euro 2024 football tournament, we have identified six stocks to favour: JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield and easyJet. While these two major sporting events are not expected to have a significant impact on the host economies in the medium term, the microeconomic and sectoral impacts should be more marked. The tourism, transport, beverages and consumer goods sectors are expected to be the main winners. Some med...
En amont des Jeux Olympiques d’été et de l’Euro de football 2024, nous identifions 6 valeurs à privilégier : JCDecaux, Accor, Sodexo, adidas, Unibail-Rodamco-Westfield et easyJet. Alors que ces deux évènements sportifs majeurs ne devraient pas avoir d’impact significatif sur les économies hôtes à moyen terme, les impacts microéconomiques et sectoriels devraient être plus marqués. Les secteurs du tourisme, des transports, des boissons et des biens de consommation devraient être les pr...
>Q1 beats expectations for the top line (+4%) and bottom line (+7%) - Q1 came in ahead of expectations for sales (+4% vs consensus) and core EPS (+7% vs consensus). Sales grew 11% at CER (10% reported), driven by all the flagship products: Entresto (growth of 34%, +15% vs consensus), Cosentyx (23%, 10% vs cons.), Kisqali (51%, -2% vs cons.) and Kesimpta (66%, 0% vs cons.). Note that Pluvicto (47%, -3% vs cons.) once again undershot expectations and our estimates slig...
>T1 au-dessus des attentes sur la topline (+4%) et la bottom line (+7%) - Le T1 ressort au-dessus des attentes au niveau des ventes (+4% vs Css) et du core BPA (+7% vs Css). Les ventes progressent de 11% tcc (10% en publié) tirées par tous les produits phares : Entresto (34%, +15% vs Css), Cosentyx (23%, 10% vs Css), Kisqali (51%, -2% vs Css) et Kesimpta (66%, 0% vs Css). Notons que Pluvicto (47%, -3% vs Css) ressort une nouvelle fois légèrement en dessous des attente...
Waga Energy offers an innovative start-up profile in the utilities sector: i/ disruptive technology in biogas treatment, ii/ established competitive advantages, iii/ positioning on a market with strong potential (>20,000 landfills) and iv/ a robust business model based on recurring revenues. At its CMD in February 2024, the company reconfirmed its ambitions for 2026 set out at the IPO (contracts for 4 TWh and recurring revenues of € 200m). The financing secured in Q1 2024 (€ 112m base...
Waga Energy propose un profil de start-up innovante dans le secteur des utilities : i/ une technologie disruptive pour le traitement du biogaz, ii/ des avantages compétitifs établis, iii/ un positionnement sur un marché à fort potentiel (>20 000 décharges) et iv/ un modèle robuste de revenus récurrents. La société a reconfirmé lors du CMD en février 2024 ses ambitions à horizon 2026 annoncées au moment de son IPO (signature de 4 TWh et CA récurrent de 200 M€). Fort des financements ob...
>Renewed interest in the sector on the stock market since the start of the year - After a challenging end to the year for the pharma sector in 2023, it has picked up since the start of the year (our coverage +15% vs Stoxx 600 +7%). Novo Nordisk continues to be the driver (+26% in Q1) aided by the re-rating of GSK (+18%). Novartis has also contributed, albeit to a lesser extent, with a gain of 3% in Q1. Sanofi, AstraZeneca and Roche bring up the rear, with gains of 1% ...
>Un regain d’intérêt pour le secteur en Bourse depuis le début de l’année - Après une fin d’année difficile pour le secteur, la pharma a repris des couleurs depuis le début d’année (coverage +15% vs Stoxx 600 +7%). Novo Nordisk continue de jouer son rôle de locomotive (+26% lors du T1) aidé par le rerating de GSK (+18%). Dans une moindre mesure, Novartis affiche une performance de 3% lors de ce T1. Sanofi, AstraZeneca et Roche ressortent en queue de peloton à 1%, +0.7...
L’année 2024 sera marquée par l’élection présidentielle américaine et l’annonce des rabais pour les 10 médicaments dont les prix sont dorénavant négociés directement par Medicare dans le cadre de l’IRA. Nous tablons sur une croissance des BPA 24e de 8% et relevons nos OC de 1% en moyenne. Nous privilégions GSK (Surperformance) qui allie valorisation attractive, croissance et newsflow. Nous maintenons notre recommandation Surperformance sur Sanofi qui devrait bénéficier d’un catalyseur...
2024 is set to be marked by the US presidential election and the announcement of rebates for the 10 drugs for which prices are now negotiated directly through Medicare under the IRA. We forecast EPS 24e growth of 8% and lift our target prices by 1% on average. We prefer GSK (Outperform) which combines an attractive valuation, growth and clinical newsflow. We maintain our Outperform rating on Sanofi which should benefit from a transformative clinical catalyst in H1. We lower our rating...
2024 is set to be marked by the US presidential election and the announcement of rebates for the 10 drugs for which prices are now negotiated directly through Medicare under the IRA. We forecast 2024e EPS growth of 8% and lift our target prices by 1% on average. We prefer GSK (Outperform) which combines an attractive valuation, growth and clinical newsflow. We maintain our Outperform rating on Sanofi which should benefit from a transformative clinical catalyst by mid-2024. We low...
L’année 2024 sera marquée par l’élection présidentielle américaine et l’annonce des rabais pour les 10 médicaments dont les prix sont dorénavant négociés directement par Medicare dans le cadre de l’IRA. Nous tablons sur une croissance des BPA 24 de 8% et relevons nos OC de 1% en moyenne. Nous privilégions GSK (Surperformance) qui allie valorisation attractive, croissance et newsflow. Nous maintenons notre recommandation Surperformance sur Sanofi qui devrait bénéficier d’un cataly...
A director at Australian Clinical Labs Limited maiden bought 20,000 shares at 2.358AUD and the significance rating of the trade was 53/100. 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 t...
>Q4 2023 results disappointing on bottom line - Q4 sales (-1% vs consensus) and core EPS (-4% vs consensus) were slightly below expectations. Sales rose by 10% cc (8% on a reported basis), driven by Entresto (+27%, +2% vs consensus), Cosentyx (+21%, +2% vs css), Kisqali (+71%, +1% vs css) and Kesimpta (+74%, +9% vs css). Note that Pluvicto (+53%, -13% vs css), in the launch phase, undershot expectations which is a disappointment for this quarter. The product should ne...
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