reports
- Fehmi Ben Naamane
ODDO BHF Small & MIDCAP MORNING NEWS - 27/09/2024
Bystronic est un groupe suisse spécialisé dans les machines de découpe laser et de pliage, avec un business model hybride entre vente d’équipements, services récurrents et logiciels. Alors que ses commandes pâtissent d’un momentum difficile depuis plusieurs trimestres, nous n’anticipons pas d’amélioration au S2 et la visibilité reste réduite pour 2025. En parallèle, le plan de restructuration initié cette année devrait surtout être visible à compter du S1 2025. Dans ce contexte, Bystr...
OSE OSE IMMUNOTHERAPEUTICS SA
WTB WHITBREAD PLC
CGM CEGEDIM SA
GBT GUERBET SA
TRI TRIGANO SA
BAMNB KONINKLIJKE BAM GROEP NV
MBWS MARIE BRIZARD WINE & SPIRITS SA
SHOT SCANDIC HOTELS GROUP
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
S92 SMA SOLAR TECHNOLOGY AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
S30 SOLUTIONS 30 SE
SOL SOLTEC POWER HOLDINGS
ENER GRUPO ECOENER S.A.
- Baptiste Salaville
- Charlotte Vaisse
- Fehmi Ben Naamane
ODDO BHF Small & MIDCAP MORNING NEWS - 09/23/2024
CF Alba, the March family holding company, invests in listed and unlisted companies where it identifies strong potential, regardless of the investment horizon. Since 1993, it has achieved a total annualized shareholder return of +11%, beating the EuroStoxx index by 3pp. The company currently trades at a c.50% discount to its NAV which is close to its historical maximum. We initiate coverage with an Outperform rating and a target price of € 68, representing a discount to its NAV of 35...
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
WTB WHITBREAD PLC
EL ESSILORLUXOTTICA SA
SQI SQLI SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ATE ALTEN SA
ELIS ELIS SA
01913 PRADA S.P.A.
SAVE SAVENCIA SA
MONC MONCLER SPA
SHOT SCANDIC HOTELS GROUP
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
GRE GRENERGY RENOVABLES
IHG INTERCONTINENTAL HOTELS GROUP PLC
- Baptiste Salaville
- Charlotte Vaisse
- Fehmi Ben Naamane
ODDO BHF Small & MIDCAP MORNING NEWS - 23/09/2024
CF Alba, the March family holding company, invests in listed and unlisted companies where it identifies strong potential, regardless of the investment horizon. Since 1993, it has achieved a total annualized shareholder return of +11%, beating the EuroStoxx index by 3pp. The company currently trades at a c.50% discount to its NAV which is close to its historical maximum. We initiate coverage with an Outperform rating and a target price of € 68, representing a discount to its NAV of 35...
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
WTB WHITBREAD PLC
EL ESSILORLUXOTTICA SA
SQI SQLI SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ATE ALTEN SA
ELIS ELIS SA
01913 PRADA S.P.A.
SAVE SAVENCIA SA
MONC MONCLER SPA
SHOT SCANDIC HOTELS GROUP
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
MEL MELIA HOTELS INTERNATIONAL S.A.
NHH NH HOTEL GROUP SA
GRE GRENERGY RENOVABLES
IHG INTERCONTINENTAL HOTELS GROUP PLC
- Fehmi Ben Naamane
- Johanna Jourdain
ODDO : July/August: two high-flying months for European hotels
>Western Europe: RevPAR growth of ~15% y-o-y in July/August - Based on the RevPAR figures in western Europe for August (+17.3% y-o-y according to STR with price growth of +15.3%), growth over July/August stands at +15% on average. This very positive trend was driven very largely by prices, with occupancy rates up 1%. The performance, which is exceptional in the context, was underpinned by strong leisure demand in Europe but also, importantly, by France (RevPAR at 9.2%...
- Research Department
INFORME DIARIO 23 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: LAR, ROVI. EUROPA: SECTOR BANCARIO, SEGUROS Y ENERGÍA ITALIA, UNICREDIT. A pesar de la Fed, semana plana en el STOXX La buena acogida a la decisión de bajar -50 p.b. tipos se vio compensada por los miedos a la demanda china. Con todo lo anterior, el STOXX 600 terminó cerrando con ligeras caídas, con Retail y Viajes&Ocio presentando las mayores subidas semanales mientras que defensivos como Alimentación y Farma acabaron con las mayores ventas. Por el...
- Research Department
IBERIAN DAILY 23 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: LAR ESPAÑA, ROVI. Flat week on the STOXX, despite the Fed The Fed’s well-received decision to cut interest rates by -50bps was offset by the fears surrounding Chinese demand. With this in mind, the STOXX 600 ended with slight losses, with Retail and Travel & Leisure posting the biggest weekly gains, whereas defensive sectors like Food and Pharma ended with the biggest losses. On the macro side, in the UK August’s retail sales were in line with expectations. In the euro zone, consu...
- Fehmi Ben Naamane
- Johanna Jourdain
ODDO : Juillet/août : deux mois d’été de haute volée pour l’hôtellerie...
>Europe de l’Ouest : RevPAR en croissance de ~15% yoy sur juillet/août - Avec les chiffres d’évolution des RevPAR en Europe de l’Ouest pour le mois d’août (+17.3% en yoy selon STR dont +15.3% de hausse de prix), la progression sur les mois de juillet/août ressort en moyenne à 15%. Cette évolution très positive est tirée exclusivement par les prix, les taux d’occupation progressant de 1%. Cette performance, exceptionnelle dans le contexte, s’explique par la forte deman...
- Research Department
IBERIAN DAILY 13 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, CHANGES IBEX, IBERDROLA, OHLA. ECB follows the script Another session of gains in Europe that was largely unaffected by the ECB, which lowered rates as expected. The IBEX again led the advance, closing above 11,400 points. Thus, in the STOXX 600 almost all sectors closed with gains, led by Basic Materials and Technology, with Utilities and Pharma being the worst performers with slight drops. On the macro side, the ECB lowered the deposit facility rate by -25bps and the margin...
- Research Department
INFORME DIARIO 13 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, CAMBIOS IBEX 35, IBERDROLA, OHLA. EUROPA: VINCI. El BCE sigue su curso Nueva jornada de ganancias en Europa sin verse muy afectadas por un BCE que bajó los tipos como esperado. El Ibex lideró nuevamente los avances hasta cerrar al filo de los 11.400 puntos. Así, en el STOXX 600 casi todos los sectores cerraron con ganancias, lideradas por Recursos Básicos y Tecnología frente al peor comportamiento de Utilities y Farma que mostraron modestas caí...
- Research Department
INFORME DIARIO 10 SEPTIEMBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: INDITEX, ROVI, TALGO, TELEFÓNICA. La semana comenzó con rebote Jornada al alza a ambos lados del Atlántico que llevó al Ibex a recuperar los 11.200 puntos en una semana clave, con el dato de inflación de EE.UU. (miércoles) y la reunión del BCE el jueves. Así, todos los sectores del STOXX 600 menos Autos e Inmobiliario presentaron subidas, lideradas por Viajes y Ocio y Químicas. Por el lado macro, en la Eurozona el índice de confianza Sentix de sept...
- Research Department
IBERIAN DAILY 10 SEPTEMBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ROVI, TALGO, TELEFÓNICA. Rally to kick off the week It was a session of gains on both sides of the Atlantic, bringing the IBEX back above 11,200 points in a key week, with US inflation data (Wednesday) and the ECB meeting (Thursday). All the sectors of the STOXX 600 except Autos and Real Estate posted gains, led by Travel & Leisure and Chemicals. On the macro side, in the euro zone September’s Sentix investor confidence index deteriorated more than expected to its lowest level sin...
- Research Department
IBERIAN DAILY 26 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS. Third week of gains for stock markets, with the Ibex exceeding the 11,200-point level Stock markets saw weekly gains >+1.00% after the good macroeconomic data and J. Powell’s speech suggesting that the Fed will initiate a gradual rate cut cycle in September to fuel the US job market. The Ibex was one of the best-performing indices, climbing +3.0%. In the STOXX 600, Retail, Real Estate and Autos led gains, whereas Energy and Technology were the only sectors ending in negative ...
- Research Department
INFORME DIARIO 26 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS. Tercera semana de alzas en las bolsas y el Ibex supera los 11.200 puntos Las bolsas festejaron con subidas semanales superiores al +1,0% los datos macro y las palabras de J. Powell dejando entrever que en septiembre la Fed empezará un ciclo gradual de bajadas de tipos para apuntalar el mercado laboral estadounidense. El Ibex fue uno de los mejores con avances del +3,0%. En el STOXX 600 lideraron las subidas los sectores de Retail, Inmobiliario...
- Research Department
IBERIAN DAILY 16 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACCIONA, ACS. US macro data spurs markets on both sides of the Atlantic The session ended better than it began, with retail sales and weekly jobless claims in the US boosting gains on both sides of the Atlantic, with better performance from growth and cyclicals in Europe. In the STOXX 600, Technology and Banks led the gains, whereas Utilities was the only sector in the red, and Real Estate along with Telecoms rose the least. On the macro side, in the UK the 2Q’24 GDP data confirme...
- Research Department
INFORME DIARIO 16 AGOSTO (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACS. EUROPA: BAYER. La macro americana impulsa las bolsas a ambos lados del Atlántico Día de menos a más donde las ventas al por menor y el paro semanal en EE.UU. impulsaron las ganancias a ambos lados del Atlántico, con mejor comportamiento del growth y las cíclicas en Europa. En el STOXX 600 Tecnología y Bancos lideraron las subidas mientras que Utilities fue el único en negativo e Inmobiliario junto con Telecos registraron las menores ga...
- Research Department
IBERIAN DAILY 02 AUGUST (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACS, IAG. IBEX on verge of losing 10,850 support level Sharp drops on European stock markets, dragged down by the results calendar and a poor manufacturing ISM data. In the STOXX 600, most sectors ended in the red (15/20), with the best performers being Retail and Real Estate, whereas Banks and Industrials ended with the biggest losses. On the macro side, in the euro zone July’s final manufacturing PMI retained the preliminary data thanks to a smaller drop in Germany, whereas June...
- Research Department
INFORME DIARIO 02 AGOSTO + RDOS. EUROPA 2T’24. PREVIEWS (ANÁLISIS BANC...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, IAG. EUROPA: AXA, BNP PARIBAS. Incluido en el informe diario de hoy, y durante toda la campaña de resultados, incorporamos al final una presentación con los resultados destacados en positivo y negativo y previews de Rdos. 2T’24 que se publicarán en España y Europa en los próximos días. El Ibex pone en riesgo el soporte de 10.850 Fuertes caídas en las bolsas europeas, lastradas por el calendario de resultados y un mal dato en el ISM manufactur...
- Rafael Bonardell
MELIÁ HOTELS: 2Q’24 RESULTS (ANÁLISIS BANCO SABADELL)
2Q'24 vs. 2Q'23 Results Sales: € 520.0 M (+1.2% vs. +0.8% BS(e) and +2.9% consensus); EBITDA: € 142.4 M (+1.3% vs. +2.3% BS(e) and +1.5% consensus); 1H'24 vs. 1H'23 Results Sales: € 957.4 M (+5.2% vs. +5.0% BS(e) and +6.2% consensus); EBITDA: € 237.7 M (+8.8% vs. +9.5% BS(e) and +9.0% consensus);
- Rafael Bonardell
- Delphine Brault
- Quentin Borie
APAML APERAM SA
GTT GAZTRANSPORT & TECHNIGAZ SA
SBMO SBM OFFSHORE NV
MF WENDEL SE
INF INFOTEL SA
KCO KLOECKNER & CO SE
NRG NRJ GROUP SA
ELG ELMOS SEMICONDUCTOR SE
BOSS HUGO BOSS AG
BB SOCIETE BIC SA
WIZZ WIZZ AIR HOLDINGS PLC
DEZ DEUTZ AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
DLG DE'LONGHI S.P.A.
AMG AMG ADVANCED METALLURGICAL GROUP N.V.
WLN WORLDLINE SA
MEL MELIA HOTELS INTERNATIONAL S.A.
TRE TECNICAS REUNIDAS SA
ALD ALD SA
VOS VOSSLOH AG
ATRY ATRYS HEALTH
CAF CONSTRUCCIONES Y AUXILIAR DE FERROCARRILES S.A.
NEXI NEXI S.P.A.
TE TECHNIP ENERGIES NV
FUR FUGRO NV
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.