reports
- Research Department
IBERIAN DAILY 26 APRIL + 1Q'24 RESULTS. HIGHLIGHTS AND REST OF PREVIEW...
NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, CAF, CELLNEX, FERROVIAL, IBERDROLA, ROVI. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’24 results to be released over the coming days in Spain. Results and macro data drag down stock markets After three straight days of gains, the business results and the macro data in the US led to stock market losses on both sides of the Atlanti...
- Research Department
INFORME DIARIO 26 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAF, CELLNEX, IBERDROLA, FERROVIAL, ROVI. EUROPA: AIRBUS, DEUTSCHE TELEKOM, SAFRAN, VINCI. 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. 1T’24 que se publicarán en España y Europa en los próximos días. Los resultados y la macro lastran las bolsas Tras tres días de ganancias, los r...
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/25/2024
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. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Charlotte Vaisse
- Emmanuel Matot
- Jean-Baptiste Rouphael
- Konrad Zomer
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 25/04/2024
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. - ...
LHN LAFARGEHOLCIM LTD.
REL RELX PLC
GET GETLINK SE
IPN IPSEN SA
EQNR EQUINOR ASA
WCH WACKER CHEMIE AG
CA CARREFOUR SA
BVI BUREAU VERITAS SA
SU SCHNEIDER ELECTRIC SE
KNEBV KONE OYJ CLASS B
ORA ORANGE SA
RI PERNOD RICARD SA
ULVR UNILEVER PLC
GLE SOCIETE GENERALE S.A. CLASS A
NESN NESTLE S.A.
ENI ENI S.P.A.
BAS BASF SE
SAN SANOFI
VOW3 VOLKSWAGEN AG PREF
SY1 SYMRISE AG
01913 PRADA S.P.A.
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
KGX KION GROUP AG
MONC MONCLER SPA
ASSA B ASSA ABLOY AB CLASS B
IBE IBERDROLA SA
AZN ASTRAZENECA PLC
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
HFG HELLOFRESH SE
ADYEN ADYEN NV
ERF EUROFINS SCIENTIFIC SOCIETE EUROPEENNE
DSY DASSAULT SYSTEMES SA
AZE AZELIS GROUP NV
ATCO A ATLAS COPCO AB
ML COMPAGNIE GENERALE DES ETABLISSEMENTS MICHELIN
DSFIR KONINKLIJKE DSM N.V.
- Louis Boujard
- CFA
- Philippe Ourpatian
Iberdrola : 2024 set to be a good year
>Outperform rating and target price of € 14.4 maintained - Q1 2024 results came in a shade above our forecasts but were broadly in line with the consensus. As expected, the group's resilience strategy enabled it to benefit over the quarter from an increase in regulated activities thanks to the growth of the asset base, and largely offset the generation activity that benefits from a good level of hydrometry on the Iberian Peninsula and new offshore wind capacity but is...
- Louis Boujard
- CFA
- Philippe Ourpatian
Iberdrola : 2024 sous de bons auspices
>Opinion Surperformance et OC 14.4 € maintenus - Les résultats du T1 24 sont ressortis un peu au-dessus de nos attentes mais globalement en ligne avec le consensus. Comme attendu, la stratégie de résilience du groupe lui permet de bénéficier, sur ce trimestre, de la progression des activités régulées grâce à la croissance de la base d’actifs. Cela a permis de largement compenser une activité de génération bénéficiant certes d’un bon niveau d’hydrométrie sur la péninsu...
- Research Department
IBERIAN DAILY 25 APRIL + 1Q’24 RESULTS. HIGHLIGHTS AND REST OF PREVIEW...
NEWS SUMMARY: ACS, AEDAS HOMES, CELLNEX, EBRO FOODS, IBERDROLA. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’24 results to be released over the coming days in Spain. Stock markets deflate European stock markets started the session off well but began to deflate, eventually closing with losses after US stock markets opened in the red and following a new rise in sovereign de...
- Research Department
INFORME DIARIO 25 ABRIL + RDOS. ESPAÑA Y EUROPA 1T’24. IDEAS DESTACADA...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACS, AEDAS, CELLNEX, EBRO FOODS, IBERDROLA. EUROPA: BASF, BNP, PERNOD RICARD, SANOFI, SCHNEIDER. 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. 1T’24 que se publicarán en España y Europa en los próximos días. Jornada de más a menos Las bolsas europeas comenzaron bien la jornada, pero fueron perdiendo fuelle...
- Virginia Romero
- Virginia Romero
- Research Department
INFORME DIARIO 12 ABRIL + RDOS. ESPAÑA Y EUROPA 1T'24. PREVIEWS (ANÁLI...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: FERROVIAL, IBERDROLA, MELIÁ. EUROPA: UNICREDIT. 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. 1T’24 que se publicarán en España y Europa en los próximos días. El BCE no para la recogida de beneficios Tras una breve transición durante la comparecencia de la presidenta del BCE donde el Euro STOXX 50 llegó ...
- Research Department
IBERIAN DAILY 12 APRIL + 1Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SABAD...
mNEWS SUMMARY: FERROVIAL, IBERDROLA, MELIÁ HOTELS. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 1Q’24 results to be released over the coming days in Spain. ECB unable to stem profit taking After a brief period during the ECB President’s speech when the EuroSTOXX 50 managed to dilute its losses, European stock markets began to fall once again, but this time dragged down by ...
- Research Department
IBERIAN DAILY 03 APRIL (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: IBERDROLA. The quarter kicks off with losses Despite the strong macro data in Europe, stock markets were in the red following the rise in debt market yields (more than +10bps in all euro zone countries) and the possibility of interest rate cuts being delayed. In the STOXX 600 most sectors fell, led by Retail and Real Estate, with Energy and Basic Materials ending with the biggest gains. On the macro side, in the euro zone the final manufacturing PMI was raised unexpectedly, althou...
- Research Department
INFORME DIARIO 03 ABRIL (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: IBERDROLA. EUROPA: AIRBUS, SECTOR SEGUROS, UNICREDIT. Nuevos máximos en Europa Pese a los buenos datos macro en Europa, los números rojos se instalaron tras las ampliaciones de las rentabilidades en los mercados de deuda (por encima de los 10 p.b. en todos los países de la Eurozona) y la posibilidad de retraso en las rebajas de los tipos de interés. Así, en el STOXX 600 dominaron las caídas, lideradas por Retail e Inmobiliario frente a Energía y R. ...
- Nicolas David
BVI BUREAU VERITAS SA
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
GRF GRIFOLS S.A. CLASS A
AIR AIRBUS SE
CAP CAPGEMINI SE
ENEL ENEL SPA
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NEM NEMETSCHEK SE
COK CANCOM SE
BC8 BECHTLE AG
IBE IBERDROLA SA
SAN BANCO SANTANDER S.A.
IDR INDRA SISTEMAS S.A. CLASS A
GRF.P GRIFOLS S.A. PREF CLASS B
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
AGN AEGON N.V.
- Nicolas David
BVI BUREAU VERITAS SA
SOP SOPRA STERIA GROUP SA
ATO ATOS SE
INF INFOTEL SA
ASY ASSYSTEM SA
SQI SQLI SA
SWP SWORD GROUP SE
ATE ALTEN SA
GRF GRIFOLS S.A. CLASS A
AIR AIRBUS SE
CAP CAPGEMINI SE
ENEL ENEL SPA
VRNL VERNEUIL PARTICIPATIONS
ORDI ORDINA N.V.
CTAC CTAC N.V.
TIETO TIETOEVRY OYJ
NEM NEMETSCHEK SE
COK CANCOM SE
BC8 BECHTLE AG
IBE IBERDROLA SA
SAN BANCO SANTANDER S.A.
IDR INDRA SISTEMAS S.A. CLASS A
GRF.P GRIFOLS S.A. PREF CLASS B
ECONT ECONOCOM GROUP SE CLASS D
REY REPLY S.P.A.
CCEP COCA-COLA EUROPEAN PARTNERS PLC
AEIN ALLGEIER HOLDING AG
WAVE WAVESTONE SA
FQT FREQUENTIS AG WIENER
NA9 NAGARRO
EXN EXCLUSIVE NETWORKS SA
OVH OVH GROUPE
IOS IONOS GROUP SE
AGN AEGON N.V.
- Louis Boujard
- CFA
- Philippe Ourpatian
Iberdrola : Security and optimisation
>Outperform rating maintained but target price raised to € 14.4 vs € 13.80 - The presentation of the 2024-2026 strategy does not call into question the group‘s fundamentals and is still based on the two pillars of development in renewable installed capacity and the regulated networks. However, this new plan places the emphasis on investments in transmission and distribution assets, aims to bring on line offshore wind assets and bolster the flexibility of conventional ...
- Louis Boujard
- CFA
- Philippe Ourpatian
Iberdrola : Sécurité et optimisation
>Opinion Surperformance maintenue et OC relevé à 14.4 € vs 13.8 € - La présentation de la stratégie 2024/2026 ne remet pas en cause les fondamentaux du groupe et repose toujours sur les deux piliers que sont le développement des capacités installées renouvelables et des réseaux régulés. Toutefois, ce nouvel opus accentue les investissements dans les actifs de transmissions et de distribution, vise à mettre en service les actifs éoliens maritimes et accroitre la flexib...
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