reports
- Farid Bitari
- Ghada Ben Sedrine
- Nicolas David
- Stephane Houri
ODDO : Generative AI: a genuine revolution, pending the next revolutio...
Our conviction on the long-term growth potential and opportunities of generative AI is renewed. The enabler sectors (semiconductors, software and IT services) and those that provide the infrastructure (utilities, metals, capital goods and real estate) will be the primary beneficiaries, leading us to make certain target price changes. Among AI ‘user’ sectors (media, healthcare, automotive, banking and insurance, oil services, defence, aerospace and airlines), the effects will doub...
LR LEGRAND SA
BMW BAYERISCHE MOTOREN WERKE AG
REL RELX PLC
PUB PUBLICIS GROUPE SA
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
SOP SOPRA STERIA GROUP SA
BNP BNP PARIBAS SA CLASS A
RNO RENAULT SA
ACN ACCENTURE PLC CLASS A
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
AUB AUBAY SA
MRK MERCK KGAA
ALTA ALTAREA SCA
ATE ALTEN SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ENEL ENEL SPA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
ICAD ICADE SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
PRY PRYSMIAN S.P.A.
IBE IBERDROLA SA
OREGE OREGE SA
SMHN SUESS MICROTEC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
VACN VAT GROUP AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
RIO RIO TINTO PLC
SAP SAP SE
AZN ASTRAZENECA PLC
SIE SIEMENS AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
REY REPLY S.P.A.
STM STMICROELECTRONICS NV
SHL SIEMENS HEALTHINEERS AG
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
STLA STELLANTIS N.V.
DSY DASSAULT SYSTEMES SA
OVH OVH GROUPE
ATCO A ATLAS COPCO AB
IOS IONOS GROUP SE
ARM ARM HOLDINGS PLC
UN0 UNIPER SE
- Farid Bitari
- Ghada Ben Sedrine
- Nicolas David
- Stephane Houri
ODDO : L’IA générative, une véritable révolution, en attendant la proc...
Notre conviction sur le potentiel de croissance LT et d’opportunités de l’IA générative est renforcée. Les secteurs 'enablers' (semiconducteurs, software et IT services) et fournisseurs d’infrastructures (utilities, métaux, biens d'équipements et immobilier) en seront les premiers bénéficiaires, conduisant à certains changements d’OC. Parmi les secteurs ‘utilisateurs’ de l’IA (média, santé, automobile, banque et assurance, services pétroliers, défense, aéronautique et compagnies ...
LR LEGRAND SA
BMW BAYERISCHE MOTOREN WERKE AG
REL RELX PLC
PUB PUBLICIS GROUPE SA
VIE VEOLIA ENVIRONNEMENT SA
ENGI ENGIE SA.
EDP EDP-ENERGIAS DE PORTUGAL SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
SOP SOPRA STERIA GROUP SA
BNP BNP PARIBAS SA CLASS A
RNO RENAULT SA
ACN ACCENTURE PLC CLASS A
NOVN NOVARTIS AG
FORTUM FORTUM OYJ
DAI DAIMLER AG
ERIC B TELEFONAKTIEBOLAGET LM ERICSSON CLASS B
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
NOKIA NOKIA OYJ
TEP TELEPERFORMANCE SE
WKL WOLTERS KLUWER NV
AUB AUBAY SA
MRK MERCK KGAA
ALTA ALTAREA SCA
ATE ALTEN SA
RWE RWE AG
SAN SANOFI
NEX NEXANS SA
VOW3 VOLKSWAGEN AG PREF
CAP CAPGEMINI SE
ENEL ENEL SPA
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
ICAD ICADE SA
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
TIETO TIETOEVRY OYJ
NDA AURUBIS AG
NEM NEMETSCHEK SE
AMS AMADEUS IT GROUP SA CLASS A
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
PRY PRYSMIAN S.P.A.
IBE IBERDROLA SA
OREGE OREGE SA
SMHN SUESS MICROTEC AG
MERLIN MERLIN PROPERTIES SOCIMI S.A.
CLNX CELLNEX TELECOM S.A.
VACN VAT GROUP AG
SLR SOLARIA ENERGIA Y MEDIO AMBIENTE S.A.
IDR INDRA SISTEMAS S.A. CLASS A
RIO RIO TINTO PLC
SAP SAP SE
AZN ASTRAZENECA PLC
SIE SIEMENS AG
BHP BHP GROUP LTD
ASML ASML HOLDING NV
REY REPLY S.P.A.
STM STMICROELECTRONICS NV
SHL SIEMENS HEALTHINEERS AG
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
WAVE WAVESTONE SA
GRE GRENERGY RENOVABLES
STLA STELLANTIS N.V.
DSY DASSAULT SYSTEMES SA
OVH OVH GROUPE
ATCO A ATLAS COPCO AB
IOS IONOS GROUP SE
ARM ARM HOLDINGS PLC
UN0 UNIPER SE
Vat Group Ag: 1 director
A director at Vat Group Ag sold 597 shares at 489.800CHF and the significance rating of the trade was 73/100. 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 show...
VAT Group AG Generalversammlung 2024: Aktionärinnen und Aktionäre gene...
VAT Group AG / Schlagwort(e): Generalversammlung VAT Group AG Generalversammlung 2024: Aktionärinnen und Aktionäre genehmigten alle Anträge des Verwaltungsrats und eine unveränderte Dividende von CHF 6.25 pro Aktie 14.05.2024 / 17:13 CET/CEST Die Aktionärinnen und Aktionäre der VAT Group AG haben an der heutigen ordentlichen Generalversammlung (GV) allen Anträgen des Verwaltungsrats zugestimmt, einschliesslich der Ausschüttung einer unveränderten Dividende von CHF 6.25 pro Aktie. An der Versammlung in St.Gallen waren 351 Aktionärinnen und Aktionäre anwesend, die 67.82% Proz...
VAT Group AG Annual General Meeting 2024: Shareholders approved all Bo...
VAT Group AG / Key word(s): AGMEGM VAT Group AG Annual General Meeting 2024: Shareholders approved all Board proposals and unchanged dividend of CHF 6.25 per share 14.05.2024 / 17:13 CET/CEST The shareholders of VAT Group AG approved all motions proposed by the Board of Directors at today’s ordinary Annual General Meeting (AGM), including the payout of an unchanged dividend of CHF 6.25 per share. 351 shareholders representing 67.82% percent of the company’s share capital were present at the meeting held in St.Gallen. The shareholders re-elected Dr. Martin Komischke as Chai...
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
INFINEON INFINEON TECHNOLOGIES AG
LR LEGRAND SA
AMS AMS AG
RCO REMY COINTREAU SA
DEMANT DEMANT A/S
GLE SOCIETE GENERALE S.A. CLASS A
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ISP INTESA SANPAOLO S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
SIX2 SIXT SE
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
DTG DAIMLER TRUCK
ARM ARM HOLDINGS PLC
AMS AMS AG
APAML APERAM SA
EVT EVOTEC SE
SBS STRATEC SE
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MBB MBB INDUSTRIES SE
PNL POSTNL NV
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
MBWS MARIE BRIZARD WINE & SPIRITS SA
AIXA AIXTRON SE
ECV ENCAVIS AG
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
TWEKA TKH GROUP N.V. CERT
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
AF AIR FRANCE - KLM
ARM ARM HOLDINGS PLC
- Benoit Valleaux
- Bruno Cavalier
- Steven Gould
INFINEON INFINEON TECHNOLOGIES AG
LR LEGRAND SA
AMS AMS AG
RCO REMY COINTREAU SA
DEMANT DEMANT A/S
GLE SOCIETE GENERALE S.A. CLASS A
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ISP INTESA SANPAOLO S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
SIX2 SIXT SE
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
IHG INTERCONTINENTAL HOTELS GROUP PLC
DTG DAIMLER TRUCK
ARM ARM HOLDINGS PLC
AMS AMS AG
APAML APERAM SA
EVT EVOTEC SE
SBS STRATEC SE
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BVB BORUSSIA DORTMUND GMBH & CO. KGAA
MBB MBB INDUSTRIES SE
PNL POSTNL NV
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
MBWS MARIE BRIZARD WINE & SPIRITS SA
AIXA AIXTRON SE
ECV ENCAVIS AG
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
TWEKA TKH GROUP N.V. CERT
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
AF AIR FRANCE - KLM
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : March 2024 sales below forecasts, memory continues to underpin ...
>Global sales for March 2024 at +15.2% y-o-y (vs +16.4% in February), Q1 2024 at +15% - Worldwide semiconductor sales in March 2024 were published by the WSTS (World Semiconductor Trade Statistics), with the usual one-month lag. In terms of the three-month moving average, sales came to $ 50.8bn, falling short of our estimate of $ 52.2bn, pointing to y-o-y growth +15.2% (a slight sequential decline of -0.6%). This marks a slowdown vs February, which stood at +16.4%. Q1...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
- Martin Marandon-Carlhian
- Stephane Houri
ODDO : Ventes de mars 2024 inférieures aux attentes, la mémoire contin...
>Ventes mondiales de mars 2024 à +15.2% yoy (vs +16.4% en février), un T1 24 à +15% - Les ventes mondiales de semiconducteurs de mars 2024 ont été publiées par la WSTS (World Semiconductor Trade Statistics), avec comme toujours, un mois de décalage. En données lissées (moyenne 3 mois), elles ressortent à 50.8 Md$, inférieures à notre prévision à 52.2 Md$, en croissance annuelle de 15.2% (légère baisse en séquentiel de -0.6%). Il s’agit d’un ralentissement par rapport ...
AMS AMS AG
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
VACN VAT GROUP AG
XFAB X-FAB SILICON FOUNDRIES SE
ASML ASML HOLDING NV
STM STMICROELECTRONICS NV
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ALKAL KALRAY SA
JEN JENOPTIK AG
ARM ARM HOLDINGS PLC
Die VAT veröffentlicht ihren Nachhaltigkeitsbericht 2023. Hier zeigt s...
VAT Group AG / Schlagwort(e): Jahresergebnis/Nachhaltigkeit Die VAT veröffentlicht ihren Nachhaltigkeitsbericht 2023. Hier zeigt sie die Fortschritte bei der Erreichung der mittelfristigen Ziele für Treibhausgasemissionen und Diversität seit 2022 auf. 19.04.2024 / 06:30 CET/CEST Reduktion der Treibhausgasemissionen (Scope 1 und 2) um 45% im Vorjahresvergleich 68% erneuerbare Energien im Energiemix (2022: 62%) 24% der Neueinstellungen sind weiblich im Jahr 2023 (2022: 22%) Mitarbeiterengagement zum siebten Mal in Folge gestiegen Die VAT, weltweit führende Anbieterin von Hi...
VAT releases its Sustainability Report 2023, showing progress against ...
VAT Group AG / Key word(s): Annual Results/Sustainability VAT releases its Sustainability Report 2023, showing progress against inaugural mid-term targets for Greenhouse Gas emissions and employee diversity targets set in 2022 19.04.2024 / 06:30 CET/CEST 45% reduction in Scope 1 and 2 Greenhouse Gas (GHG) emissions year-over-year Renewable energy proportion of the energy mix up to 68% (versus 62% in 2022) Female hires in 2023 at 24% versus 22% in 2022 Employee engagement score up for the 7th year in a row VAT, the leading global supplier of high-end vacuum valves, publish...
- Martin Marandon-Carlhian
- Stephane Houri
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/12/2024
We have upgraded our rating on Ørsted to Outperform from Neutral, with a target price lifted to DKK 480 from DKK 400. Future projects are showing a much more attractive return on investment than in the past. At the same time, particular attention is being paid to a healthier financial equation and a review of project execution. Among the renewable energy players, Ørsted seems more likely than its peers to outperform, even if the fall in interest rates takes a little longer to material...
- Martin Marandon-Carlhian
- Stephane Houri
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/04/2024
Nous relevons notre opinion sur Ørsted à Surperformance contre Neutre précédemment avec un OC porté à 480 DKK contre 400 DKK. Les futurs projets affichent des retours sur investissement beaucoup plus attractifs que par le passé. En parallèle une attention particulière est portée sur l’équation financière plus saine et une remise à plat de l’exécution des projets. Parmi les acteurs du renouvelable, Ørsted semble le plus à même de surperformer même si la baisse des taux d’intérêt devait...
- Martin Marandon-Carlhian
- Stephane Houri
VAT Group AG : Reprise bien engagée mais avec peu d’upside sur la valo...
>Opinion Neutre confirmée, OC révisé à 500 CHF (vs 420 CHF) - Le titre VAT était stable hier, la déception autour du CA T1 et de la guidance T2 ayant été compensées par de solides prises de commandes (10% > aux attentes). Le momentum devrait par ailleurs se poursuivre sur les prochains trimestres, avec un BtB attendu >1, tiré notamment par le rebond des investissements dans la mémoire et l’absence de baisse de la demande en Chine. Compte tenu de ces éléments, nous aju...
- Martin Marandon-Carlhian
- Stephane Houri
VAT Group AG : Recovery well underway but limited upside on the valuat...
>Neutral recommendation confirmed, target price raised to CHF 500 (vs CHF 420) - VAT’s share price was stable yesterday, with the disappointment on Q1 revenue and the guidance for Q2 offset by solid order intake (10% > forecasts). Moreover, momentum should continue over the coming quarters, with a book-to-bill anticipated at >1, largely driven by the rebound in investment in memory and the absence of a decline in demand in China. In light of these elements, we have ad...
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
- Martin Marandon-Carlhian
- Stephane Houri
VAT Group AG : Q1 sales and Q2 guidance slightly below expectations, b...
>Q1 2024 sales slightly below the consensus but orders above - This morning, VAT reported Q1 2024 sales slightly below the consensus but with better-than-expected order intake. Sales in Q1 were CHF 199m (down 15% y-o-y and -11% q-o-q), 2% below the company-compiled consensus at CHF 203m (vs a guidance range of CHF 185 – 205m). Orders came in at CHF 236m, above the consensus forecast of CHF 214m. Order intake was up 73% y-o-y and flat q-o-q, with a book-to-bill ratio ...
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