reports
- Ahmed Ben Salem
ODDO BHF Small & MIDCAP MORNING NEWS - 05/31/2024
Feintool is perfectly positioned to benefit from a brisker energy transition (75% of revenues in 2027 vs 40% in 2023) in both the automotive and industrial sectors. Growth appears to be limited over 2024, but the medium-term prospects look more attractive (2024-26 CAGR: +9%), buoyed by attractive operating leverage (EBIT margin: 6% by 2026 vs 3.5% in 2023) and growing cash generation (2026 FCF yield: 4%e. vs 2.5% in 2023). Based on our valuation methods, we obtained a target price of ...
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
KPN ROYAL KPN NV
ORA ORANGE SA
VAC PIERRE & VACANCES SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
ENI ENI S.P.A.
DTE DEUTSCHE TELEKOM AG
REP REPSOL SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
SHEL SHELL PLC
- Ahmed Ben Salem
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
EL ESSILORLUXOTTICA SA
GAMA GAMMA COMMUNICATIONS
ENI ENI S.P.A.
DTE DEUTSCHE TELEKOM AG
REP REPSOL SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
AUTO AUTO TRADER GROUP PLC
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
SHEL SHELL PLC
- Ahmed Ben Salem
ODDO BHF Small & MIDCAP MORNING NEWS - 31/05/2024
Feintool est aujourd’hui parfaitement positionné pour bénéficier de l’accélération de la transition énergétique (75% du CA 2027 vs 40% en 2023) autant sur le marché automobile que sur le secteur industriel. Si la croissance semble limitée sur 2024, la trajectoire à moyen terme est plus attractive (TMVA 2024-26 de +9%) accompagnée par un levier opérationnel intéressant (marge d’EBIT de 6% d’ici 2026 vs 3.5% en 2023) et une génération de cash en croissance (FCF yield 2026 de 4%e vs 2.5%...
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
KPN ROYAL KPN NV
ORA ORANGE SA
VAC PIERRE & VACANCES SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
ENI ENI S.P.A.
DTE DEUTSCHE TELEKOM AG
REP REPSOL SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
SHEL SHELL PLC
- Ahmed Ben Salem
O2D TELEFONICA DEUTSCHLAND HOLDING AG
EQNR EQUINOR ASA
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
GALP GALP ENERGIA SGPS SA CLASS B
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
EL ESSILORLUXOTTICA SA
GAMA GAMMA COMMUNICATIONS
ENI ENI S.P.A.
DTE DEUTSCHE TELEKOM AG
REP REPSOL SA
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
AUTO AUTO TRADER GROUP PLC
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
BP. BP P.L.C.
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
SHEL SHELL PLC
- Konrad Zomer
- Stephane Beyazian
ODDO : Recap on France: the market tightens once again
>The three main takeaways from Q1: Iliad at a peak, SFR at a trough, promotions return - In commercial terms, Iliad has gained 212,000 mobile contracts vs Bouygues Telecom 17,000, Orange 9,000 and SFR reported a historic loss of 487,000 customers. In the fixed Internet segment, Iliad gained 85,000 contracts vs Bouygues Telecom at 38,000, Orange -43,000 and SFR -77,000. Iliad and Bouygues Telecom continue to gain market share.In our view, the three main takeaways ...
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
- Konrad Zomer
- Stephane Beyazian
ODDO : Recap France : le marché se durcit à nouveau
>Les 3 faits du T1 : Iliad au plus haut, SFR au plus bas, le retour des promotions - Commercialement, Iliad gagne 212 000 contrats mobile vs Bouygues Telecom 17 000, Orange 9 000 et SFR publie une perte historique de 487 000 clients. Sur l’internet fixe, Iliad a ajouté 85 000 clients vs Bouygues Telecom 38 000, Orange -43 000 et SFR -77 000. Iliad et Bouygues Telecom continuent à gagner des parts de marché.Les trois faits marquants du T1 2024 pour nous sont : 1/ ...
ETL EUTELSAT COMMUNICATIONS SA
PROX PROXIMUS SA DE DROIT PUBLIC
KPN ROYAL KPN NV
ORA ORANGE SA
EN BOUYGUES SA
UTDI UNITED INTERNET AG
GAMA GAMMA COMMUNICATIONS
DTE DEUTSCHE TELEKOM AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
TIT TELECOM ITALIA S.P.A.
CLNX CELLNEX TELECOM S.A.
FNTN FREENET AG
VOD VODAFONE GROUP PLC
OBEL ORANGE BELGIUM SA
TEF TELEFONICA SA
NFN NFON AG
DRI 1&1 DRILLISCH AG
- Research Department
IBERIAN DAILY 31 MAY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: AENA, FERROVIAL, MERLIN PROPERTIES. The Ibex leads Europe European indices rose, led by the Ibex, which climbed more than +1.7% and returned to 11,300 points with sovereign yields tightening again. Thus, in the STOXX 600, all sectors with the exception of Energy, Technology and Basic Resources saw gains, led by Real Estate and Banks. On the macro side, in the euro zone, May’s economic confidence rose less than expected and May’s unemployment rate dropped one tenth to 6.4%. In Sp...
BASF SE: 1 director
A director at BASF SE bought 2,000 shares at 48.525EUR and the significance rating of the trade was 60/100. 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 showin...
- Research Department
INFORME DIARIO 27 MAYO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, MELIÁ, ROVI. Las bolsas corrigen desde máximos Toma de beneficios en el mercado, en una semana marcada por los comentarios de la Fed a favor de mantener los tipos en niveles altos y a pesar de los buenos resultados de NVIDIA. Así, entre los pocos sectores con subidas del STOXX 600 estuvieron Industria y Tecnología, mientras que Utitlities y Alimentación fueron los más penalizados. Por el lado macro, en Alemania el PIB final del 1T’24 confirmó ...
- Research Department
IBERIAN DAILY 27 MAY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, MELIÁ HOTELS, ROVI. Market corrections from highs Stock exchanges saw profit taking last week, which was marked by the Fed’s comments in favour of keeping rates at high levels and despite NVIDIA’s good results. Thus, Industrials and Technology were among the few sectors that saw gains in the STOXX 600, whereas Utilities and Food were hit the hardest. On the macro side, in Germany the final 1Q’24 GDP confirmed the preliminary data, climbing 0.2% QoQ vs. -0.5% the previous qua...
- Luis Arredondo
- James Ratzer
- Michael B. Schäfer
- Michael B. Schäfer
- Michael B. Schäfer
BASF : IR-RS feedback - Q1 volume recovery trends continue in April/Ma...
>Volume recovery continued in April/May, improving plant utilisations - We hosted a reassuring roadshow with BASF IR. The volume recovery trends observed in Q1 2024 when BASF reported 0.5% y-o-y group volume growth, held back by a -9% decline in average volumes but the 7% 'Verbund' volume recovery continued in April/May y-o-y. The level of restocking remains hard to assess for BASF, but we like the continuation of the trend. Therefore, global plant utilisation recover...
BASF Corporation enters class settlement with U.S. public water system...
BASF Corporation enters class settlement with U.S. public water systems FLORHAM PARK, N.J., May 21, 2024 (GLOBE NEWSWIRE) -- On May 20, 2024, BASF Corporation (“BASF”), the North American affiliate of BASF SE, agreed to a settlement with a nationwide class of public water systems that detected PFAS in their drinking water sources, which they allege to be associated with the use of Aqueous Film Forming Foam (“AFFF”) products. Some of the AFFF products at issue in the litigation were made using a surfactant produced by Ciba Specialty Chemicals (“Ciba”), which BASF acquired in 2009. In 2003,...
- Research Department
IBERIAN DAILY 21 MAY (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACCIONA ENERGÍA, CAF, IAG, TELEFÓNICA. The positive trend in stock exchanges continues European stock markets saw new gains, with the S&P500 hitting new highs. Within the STOXX 600, Industrials and Technology were the best-performing sectors whereas Autos and Real Estate ended with the biggest losses. On the macro side, few references were made public, in Spain, April’s consumer confidence data recovered to Sept’23 highs, in the euro zone, the members from the ECB Vasle and Kaza...
- Research Department
INFORME DIARIO 21 MAYO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA ENERGÍA, CAF, IAG, TELEFÓNICA. Las bolsas mantienen su sesgo positivo Los mercados europeos subieron una sesión más, con el S&P 500 batiendo un nuevo máximos. En el STOXX 600 los mejores sectores fueron Industriales y Tecnología mientras que Autos e Inmobiliario terminaron con las mayores caídas. Por el lado macro, vivimos una jornada muy descargada de indicadores, en España la confianza del consumidor de abril se recuperó hasta los máximos ...
- James Ratzer
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