A director at Lagardere S.A. bought 5,251 shares at 19.950EUR 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...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
Deutz is a leading non-captive engine manufacturer for a wide range of customer industries with a strong and very well-known brand. The company will enter a profitable growth period soon (CAGR 2023-26e sales 8%, EPS 18%). We initiate coverage with an Outperform rating and a target price of € 7.9, reflecting >40% upside from here. - ...
>Q1 sales 12% above our forecasts - Lisi has reported Q1 sales of € 449.3m (€ 430.7m est.) vs € 401.3m, up 11.9% and 12.5% organically. These sales were well above our forecasts, mainly thanks to the excellent showing in aerospace. This was also a good performance in view of the demanding comparison base (+15%). The Aerospace division posted organic growth of 27%, driven by the higher production rate of single-aisle versions of the A320. Full-year target...
>CA T1 supérieur à nos attentes de 12% - Lisi publie un CA T1 de 449.3 M€ (430.7 M€ estimés) vs 401.3 M€ en hausse de 11.9% et +12.5% en organique. Ce CA est largement supérieur à nos attentes principalement du fait des très bonnes performances dans l’aéronautique. Il s’agit de surcroît d’une bonne performance alors que l’effet de référence était soutenu (+15%). Ainsi, la division Aerospace affiche une hausse organique de +27% portée par l’accroissement des cadences d...
Having flirted with the 495-point mark on Friday, which could have triggered an extension of the correction, the market has rebounded well since then. Our technical analysis highlights a configuration in which we are only at the start of a powerful rally. Target of 622 points for Stoxx 600 index (+11%) by the end of the year confirmed. Prefer banks to insurance companies in the short term. - ...
Après avoir frôlé vendredi la barre des 495 points qui aurait pu déclencher la poursuite de la correction, le marché a ensuite bien rebondi. Notre analyse technique met en lumière une configuration où nous ne serions qu’au début d’un rallye puissant. Objectif 622 points (+11%) d’ici à la fin de l’année confirmé sur le Stoxx 600. Préférer les banques aux assurances à court terme. - ...
>Neutral rating maintained - Lagardère’s Q1 2024 sales, reported this morning, were in line with our expectations. The group is not holding a conference call but its AGM is scheduled today for 10am. Momentum remains good in the travel retail segment and momentum should, we think, remain good in Q2 and Q3, thanks particularly to the sequence of sporting events (Euro 2024 and Olympics). We reiterate our Neutral rating and our target price of € 25.0 as we think the valua...
>Opinion Neutre réitérée - Lagardère a publié ce matin un CA du T1 2024 en ligne avec notre attente. Le groupe ne tient pas de conférence téléphonique mais son AG aujourd’hui à 10 h. La dynamique reste bonne sur la partie Travel retail et le momentum devrait, selon nous, rester bon au T2 et T3, notamment grâce à la séquence d’événements sportifs (Euro de football et JO). Nous réitérons notre opinion Neutre sur le titre et notre OC de 25,0 € car nous estimons la valori...
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. Som...
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 l...
Despite a still highly inflationary environment, Lisi improved its EBIT in absolute terms and generated a positive FCF that exceeded our expectationsBarring a catastrophe, the 2024 financial year will still see sustained growth thanks to the very good momentum in aeronauticsThe improvement in EBIT margin seen in H2 should continue in 2024 under the effect of price increases and the stabilisation of raw material pricesEarnings growth momentum is once again favourable and multiples are becoming af...
>Opinion Neutre réitérée - Lagardère a publié hier soir ses résultats annuels 2023 ressortis supérieurs aux attentes avec un EBIT récurrent de 520 M€ alors que nous tablions sur 484 M€. La surprise ressort au niveau de Lagardère Travel Retail dont l’EBIT ressort à 245 M€ vs 185 M€ attendus. La bonne dynamique pour le Travel Retail se poursuit, la croissance organique ressort à 15% au T4. Lagardère Publishing affiche une croissance organique de 6% au T4 vs notre attent...
>Neutral rating maintained - Lagardère’s full-year 2023 results, reported yesterday evening, beat expectations, with recurrent EBIT of € 520m, vs our € 484m forecast. The surprise came from Lagardère Travel Retail where EBIT topped our expectations (€ 245m vs € 185m expected). Travel retail continues to see good momentum, with organic growth at 15% in Q4. Lagardère Publishing posted organic growth of 6% in Q4 vs our forecast of 1% while EBIT was in line with our expec...
>Operating results close to our forecasts - Sales were up 14.4%, +15.5% organically. This very strong momentum, homogeneous across quarters, lifted all three business units and benefited from a price effect. This is a good performance despite the base effect (+15.5% in 2022). The underlying operating profit edged up 1.8%, implying an underlying operating margin of 5.5% (5.8% estimated, 5.5% for consensus) vs 6.3% (-80bp), as H1 was under pressure. FCF is positive at a...
>Des résultats opérationnels proches de nos attentes - Le CA affiche une hausse de 14.4% et de 15.5% en organique. Cette très forte dynamique a été homogène entre les différents trimestres, a concerné les 3 activités et a également bénéficié d’un effet prix. Il s’agit d’une bonne performance malgré l’effet de référence (+15.5% en 2022). Le ROC affiche une légère hausse de 1.8% soit une MOPC de 5.5% (5.8% estimés, 5.5% pour le Css) vs 6.3% (-80 pb) du fait d’un S1 sous...
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.