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Intesa Sanpaolo S.p.A.: 1 director

A director at Intesa Sanpaolo S.p.A. sold 10,000 shares at 5.481EUR and the significance rating of the trade was 54/100. 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 c...

Abivax: 1 director

A director at Abivax sold after exercising options/sold 1,104,640 shares at 54.000EUR 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 t...

Tijs Hollestelle
  • Tijs Hollestelle

BAM/Time to take its valuation out of second division/BUY

We maintain our BUY rating and raise our target price from €5.90 to €9.00 per share. We increase our FY25F and FY26F EPS estimates by 13% and 9% respectively following better-than-expected 1H25 results and a slightly higher FY25 adjusted EBITDA margin outlook. We use a new 10.5x target PER to back our new €9.00 target price and move to our FY26F EPS. Previously we valued BAM using the stock's long-term historical mid-cycle multiple of 8.5x and now take the high end of the multiple trading range ...

Andreas Riemann
  • Andreas Riemann
Andreas Riemann
  • Andreas Riemann
Steven Gould
  • Steven Gould
Steven Gould
  • Steven Gould
ING Helpdesk
  • ING Helpdesk

Benelux Morning Notes

Alfen: Preview - muddling through? Belgian telcos: Competition Authority investigation on Proximus/Orange Belgium MoU. Brunel International: 2Q25 below, 3Q25 outlook cut, cost savings protect FY25 estimates. Euronext: Another record set of results. Fugro: Sharper V-shape? GBL: Weak NAV performance, as expected. KBC Ancora: Cooperative CERA increasing its stake to 51.24%, using excess cash. UCB: Renewed US threats to cut drug prices. Umicore: 1H25 and guide broadly in-line, new S...

Louis Boujard ... (+4)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
  • Thomas Zlowodzki
Louis Boujard ... (+3)
  • Louis Boujard
  • CFA
  • Philippe Ourpatian
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