Virbac: 1 director

A director at Virbac sold 3,008 shares at 365.039EUR and the significance rating of the trade was 96/100. 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 showing ...

Virbac - A promising start to the year

Nearly 10% organic sales growth in Q1, ahead of our forecastsAll regions up at constant exchange ratesVisibility improving for the rest of the year, and annual guidance logically confirmedWe remain at Add, with a slightly higher target price of €375/share (vs. €365 previously).

Ericsson (Buy, TP: SEK70.00) -

Despite a delay in our mix-driven earnings and FCF rebound case, Ericsson’s Q1 gross margin showed early signs of trends we believe should accelerate through 2024 and ultimately drive Infront consensus EPS revisions closer to our full-year adj. EBITA (17% above consensus), potentially triggering a re-rating. In our view, Ericsson’s soft market outlook commentary and implicit Q2 guidance should be seen in light of its ongoing union negotiations in Sweden amid lay-offs. We reiterate our BUY and SE...

Credit Morning 04/17/2024

ZF issues USD 1.5bn green bonds to address refinancing wall Derichebourg: profit warning following November's cyber attack and, more importantly, a slump in metals recycling sector>...

Morning Crédit 17/04/2024

ZF issues USD 1.5bn green bonds to address refinancing wall Derichebourg : profit warning suite à la cyber attack de novembre mais surtout à une détérioration de la conjoncture dans le recyclage des métaux>...

ODDO BHF Small & MIDCAP MORNING NEWS - 04/17/2024 Date Performance sin...

NEXT can claim the leading position in the UK fashion category. Moreover, the company managed the transition from offline to online comparatively well. However, top-line growth should remain at 4% a year until 2026 as the business outside the UK is too small. The operating margin should decrease 40bp to 17.6% on higher wages and general Opex inflation. We initiate coverage with a Neutral rating and a TP of 8,900p (based on a peer group and DCF). - ...

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/17/2024

...

ODDO BHF Small & MIDCAP MORNING NEWS - 17/04/2024 Date Performance dep...

NEXT can claim the leading position in the UK fashion category. Moreover, the company managed the transition from offline to online comparatively well. However, top-line growth should remain at 4% a year until 2026 as the business outside the UK is too small. The operating margin should decrease 40bp to 17.6% on higher wages and general Opex inflation. We initiate coverage with a Neutral rating and a TP of 8,900p (based on a peer group and DCF). - ...

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 17/04/2024

...

Virbac : Q1 2024 revenues: at the upper end of expectations, ahead of ...

>Q1 +9.7% organically (vs +4.9% over FY 2023) - Q1 revenues at € 345.7m, up 9.8% (+10.8% cc). By species, companion animals delivered strong growth of 16.2% LfL, while livestock revenues were up 4.1% cc (+1.2% LfL). Europe posted growth of 12.5% cc, driven by solid performances in central and eastern Europe (+34.9% LfL) and northern Europe (+23.8% cc). The US recorded the group's strongest growth (+28.4% cc), unlike Latin America, which turned in a more mixed per...

Ericsson : Uncertainties persist in 2024, but an improvement in margin...

>Underperform rating maintained, target price raised to SEK 52 vs SEK 50 - Following the publication of Q1 2024 results, we have raised our forecast for 2024 EPS by 7%, and our target price to SEK 52 vs SEK 50. The market and the timing of the recovery remains very uncertain. Furthermore, the group has not yet settled its cases with the US DoJ, meaning the threat of a further fine still hangs over it. Based on our new estimates, the valuation is relatively undemanding...

Virbac : CA T1 2024 : dans le haut des attentes et au-dessus de la tra...

>T1 : +9,7% organique (vs +4,9% en FY 2023) - Le CA T1 ressort à 345,7 M€, soit +9,8% (+10,8% à tcc.). Par espèce, les animaux de compagnie sont en forte progression de 16.2% à ptcc et les animaux d’élevage affichent une croissance de 4,1% à tcc (+1,2% à ptcc). L’Europe affiche une croissance de 12,5% à tcc notamment portée par de solides performances en Europe Centrale et de l’Est (+34,9% à tcc) et en Europe du Nord (+23,8% à tcc). Les USA affichent la plus fort...

Esker : Q1 2024 sales in line. Strong Bookings, which is reassuring an...

>Q1 2024 sales of € 47.7m, up 12% org, close to our expectations - Esker reported Q1 2024 sales broadly in line with our estimates. The level of activity reached € 47.7m (vs ODDO BHF € 47.5m), up 12% on a reported and an organic basis. In detail, SaaS activities (82% of sales) posted growth of +12% y-o-y, slowing slightly as a result of a flat volume of transactions in Q1 (46% of SaaS sales), whilst fixed subscriptions (56% of SaaS sales) rose sharply over the period ...

Esker : T1 en ligne. Des bookings encore élevés qui offrent du confort...

>CA T1 2024 à 47.7 M€, en hausse de 12% org, proche de nos attentes - Esker a publié un CA T1 2024 globalement en ligne avec nos attentes. Le niveau d’activité ressort à 47.7 M€ (vs ODDO BHF 47.5 M€), en croissance de 12% en données publiées et en organique. Dans le détail, les activités SaaS (82% des ventes) affichent une croissance de 12% y-o-y, en légère décélération du fait d’un volume de transactions flat sur T1 (46% CA SaaS), tandis que les abonnements fixes (56...

Ericsson : Les incertitudes persistent en 2024, mais amélioration des ...

>Opinion Sous-performance maintenue, OC relevé à 52 SEK vs 50 SEK - Suite à la publication des résultats T1 24, nous relevons notre BPA 2024e de 7%, ainsi que notre OC à 52 SEK vs 50 SEK. Le marché et le timing de sa reprise reste très incertain. De surcroit, le groupe n’a pas encore réglé ses affaires juridiques avec le DoJ Américain, laissant peser la menace d’une amende supplémentaire. Sur la base de nos nouvelles estimations, la valorisation est assez peu exigeant...

Ericsson 1Q24: Revenues stabilizing, margins improving: are we approac...