reports
- Bruno Cavalier
- Jean Danjou
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/14/2024
We are removing GSK from our European Large Caps Convictions List. The company is the only one of the six Big Pharma groups to have experienced a break in trend, which could act as a drag on future publications. Our analyst adjusted this morning his EPS estimates for 2024/2025/2026 by -0.6%, 2.0% and- 3.4% respectively, factoring in weaker growth for Arexvy and Shingrix, hence the lowering of his target price from 2,150p to 1,900p. - ...
CA CARREFOUR SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ROG ROCHE HOLDING LTD
ORA ORANGE SA
NOVN NOVARTIS AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SAND SANDVIK AB
EN BOUYGUES SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
SAN SANOFI
HEI HEIDELBERGCEMENT AG
AIR AIRBUS SE
01913 PRADA S.P.A.
MOCORP METSO OUTOTEC OYJ
FDR FLUIDRA S.A.
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
AZN ASTRAZENECA PLC
ASML ASML HOLDING NV
EPI A EPIROC AB
GSK GSK PLC
NOVO B NOVO NORDISK A/S
- Jean Danjou
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
TNG TRANSGENE SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
NDA AURUBIS AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
JST JOST WERKE AG
- Bruno Cavalier
- Jean Danjou
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/10/2024
Nous sortons GSK de notre liste de valeurs recommandées Large Caps. La société est la seule des 6 big Pharma à connaître une rupture de tendance qui pourrait peser lors des prochaines publications. Notre analyste ajuste ce jour ses prévisions de BPA 24/25/26 de -0.6%/-2.0%/-3.4% intégrant une plus faible croissance pour Arexvy et Shingrix, ce qui conduit à une baisse de son objectif de cours de 2 150p à 1 900p. - ...
CA CARREFOUR SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
ROG ROCHE HOLDING LTD
ORA ORANGE SA
NOVN NOVARTIS AG
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
SAND SANDVIK AB
EN BOUYGUES SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
SAN SANOFI
HEI HEIDELBERGCEMENT AG
AIR AIRBUS SE
01913 PRADA S.P.A.
MOCORP METSO OUTOTEC OYJ
FDR FLUIDRA S.A.
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
AZN ASTRAZENECA PLC
ASML ASML HOLDING NV
EPI A EPIROC AB
GSK GSK PLC
NOVO B NOVO NORDISK A/S
- Jean Danjou
- Thomas Zlowodzki
MC LVMH MOET HENNESSY LOUIS VUITTON SE
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
TNG TRANSGENE SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
01913 PRADA S.P.A.
NDA AURUBIS AG
MONC MONCLER SPA
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
JST JOST WERKE AG
- Jean Danjou
ODDO : Monday review – Luxury sector
>Topic of the week: at the mercy of politics - All eyes were fixed on China on Saturday as the Chinese Ministry of Finance held a press conference to detail new support measures for the country’s struggling economy. As far as luxury is concerned, a sharp turn in consumer sentiment is required in China for the spending there to resume its « normal » expected growth (presumably close to double digit). As a result, the sector’s valuation at this time is heavily influence...
- Jean Danjou
ODDO : Monday review – Luxury sector
>Topic of the week: at the mercy of politics - All eyes were fixed on China on Saturday as the Chinese Ministry of Finance held a press conference to detail new support measures for the country’s struggling economy. As far as luxury is concerned, a sharp turn in consumer sentiment is required in China for the spending there to resume its « normal » expected growth (presumably close to double digit). As a result, the sector’s valuation at this time is heavily influence...
- Research Department
INFORME DIARIO 11 0CTUBRE + RDOS. EUROPA 3T’24 (ANÁLISIS BANCO SABADEL...
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACERINOX, IBERDROLA, NATURGY, SACYR, SECTOR ELÉCTRICO. EUROPA: AIRBUS, PREVIOS RESULTADOS 3T’24, SANOFI. 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. 3T’24 que se publicarán en España y Europa en los próximos días. El Ibex corta su racha Las ventas se impusieron en Europa, sobre todo en el Ibex, que acumu...
- Research Department
IBERIAN DAILY 11 OCTOBER (ANÁLISIS BANCO SABADELL)
NEWS SUMMARY: ACERINOX, ELECTRICITY SECTOR, IBERDROLA, NATURGY, SACYR. The IBEX ends its streak Stock markets in Europe fell, especially the IBEX, which had seen gains in five straight sessions and closed yesterday as the worst performer in Europe. In the STOXX 600, most sectors (15/20) closed with losses, led by Industrials and Technology, with Energy and Insurance posting the biggest gains. In the euro zone, the ECB’s last meeting minutes warned that despite the fact that inflation has fallen...
EssilorLuxottica: Disclosure of Share Capital and Voting Rights Outsta...
EssilorLuxottica: Disclosure of Share Capital and Voting Rights Outstanding as of September 30, 2024 Disclosure of Share Capital and Voting Rights Outstanding as of September 30, 2024 (Pursuant to Article L.233-8 II of the French Commercial Code and articles 221-1 and 223-16 of the General Regulations of the Autorité des Marchés Financiers) Charenton-le-Pont, France (October 9, 2024 - 6:00 pm) – As of September 30, 2024, shares and voting rights outstanding of EssilorLuxottica, the global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses, break...
EssilorLuxottica: Nombre total de droits de vote et d’actions composan...
EssilorLuxottica: Nombre total de droits de vote et d’actions composant le capital social au 30 septembre 2024 Nombre total de droits de vote et d’actions composant le capital social au 30 septembre 2024 (Conformément à l’article L.233-8 II du Code de Commerce et aux articles 221-1 et 223-16 du Règlement Général de l’AMF) Charenton-le-Pont, France (9 octobre 2024, 18h00) – Au 30 septembre 2024, le capital d’EssilorLuxottica, le leader mondial dans la conception, la fabrication et la distribution de verres ophtalmiques, de montures et de lunettes de soleil, s’établit comme indiqué ci-dess...
EssilorLuxottica: Third-Quarter 2024 Revenue Conference Call Invitatio...
EssilorLuxottica: Third-Quarter 2024 Revenue Conference Call Invitation Third-Quarter 2024 RevenueConference Call Invitation Mr STEFANO GRASSI, Chief Financial Officer, andMr GIORGIO IANNELLA, Head of Investor Relations, have the pleasure of inviting you to our Third-Quarter 2024 Revenue Conference Call on: Thursday, October 17, 2024, at 6:30 pm CEST Dial-in telephone access: If you wish to dial into the conference call, please pre-register at the following link to receive the personal credentials (Dial-in numbers, Conference ID and User ID): If you encounter any issue in the pre-re...
EssilorLuxottica: Third-Quarter 2024 Revenue Conference Call Invitatio...
EssilorLuxottica: Third-Quarter 2024 Revenue Conference Call Invitation Third-Quarter 2024 RevenueConference Call Invitation Mr STEFANO GRASSI, Chief Financial Officer, andMr GIORGIO IANNELLA, Head of Investor Relations, have the pleasure of inviting you to our Third-Quarter 2024 Revenue Conference Call on: Thursday, October 17, 2024, at 6:30 pm CEST Dial-in telephone access: If you wish to dial into the conference call, please pre-register at the following link to receive the personal credentials (Dial-in numbers, Conference ID and User ID): If you encounter any issue in the pre-re...
- Jean Danjou
ODDO : Monday review – Luxury sector
>Topic of the week: around the world in a few lines - Ahead of the Q3 results season, we review the most recent evidence on luxury trends by geography, focusing on what has happened over the summer and how the coming winter season looks at this point. First things first, China; this is the place where the message is probably the most similar across luxury groups: persistent low traffic over the summer is set to result in a visible y-o-y decline in sales over Q3 (we ha...
- Emmanuel Matot
ODDO BHF Small & MIDCAP MORNING NEWS - 10/07/2024
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
AMS AMS AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
COV COVIVIO SA
GFC GECINA SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BON BONDUELLE SCA
ELIS ELIS SA
ICAD ICADE SA
01913 PRADA S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
MBWS MARIE BRIZARD WINE & SPIRITS SA
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
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
- Bruno Cavalier
- Jerôme Bodin
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/07/2024
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
AMS AMS AG
GET GETLINK SE
SGO COMPAGNIE DE SAINT-GOBAIN SA
UBI UBISOFT ENTERTAINMENT SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
COV COVIVIO SA
GFC GECINA SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
EL ESSILORLUXOTTICA SA
VIV VIVENDI SE
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ALO ALSTOM SA
ICAD ICADE SA
01913 PRADA S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
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
KBX KNORR-BREMSE AG
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Emmanuel Matot
ODDO BHF Small & MIDCAP MORNING NEWS - 07/10/2024
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
AMS AMS AG
MC LVMH MOET HENNESSY LOUIS VUITTON SE
COV COVIVIO SA
GFC GECINA SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
EL ESSILORLUXOTTICA SA
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
BON BONDUELLE SCA
ELIS ELIS SA
ICAD ICADE SA
01913 PRADA S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
MBWS MARIE BRIZARD WINE & SPIRITS SA
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
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
- Bruno Cavalier
- Jerôme Bodin
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 07/10/2024
Last week we held our fourth ODDO BHF Iberian Forum. The event was fully virtual and took place on October 1 and 2. With 62 Iberian issuers, close to 200 institutional investors and c. 800 meetings, this is one of the largest dedicated Iberian conferences held this year. This note brings together 49 feedback documents, with 5 target price revisions (o/w 3 downward revisions) and a rating downgrade on Pharma Mar. The main subjects of debate were i/ the trend in final demand in the con...
AMS AMS AG
GET GETLINK SE
SGO COMPAGNIE DE SAINT-GOBAIN SA
UBI UBISOFT ENTERTAINMENT SA
MC LVMH MOET HENNESSY LOUIS VUITTON SE
COV COVIVIO SA
GFC GECINA SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
FLY SOCIETE FONCIERE LYONNAISE SA
EL ESSILORLUXOTTICA SA
VIV VIVENDI SE
BRBY BURBERRY GROUP PLC
KER KERING SA
ELG ELMOS SEMICONDUCTOR SE
TPE PVA TEPLA AG
ALO ALSTOM SA
ICAD ICADE SA
01913 PRADA S.P.A.
SOI SOITEC SA
ASM ASM INTERNATIONAL N.V.
AIXA AIXTRON SE
PFV PFEIFFER VACUUM TECHNOLOGY AG
ATS AT & S AUSTRIA TECHNOLOGIE & SYSTEMTECHNIK AKTIENGESELLSCHAFT
MONC MONCLER SPA
WAF SILTRONIC AG
MELE MELEXIS NV
REC RECORDATI INDUSTRIA CHIMICA E FARMACEUTICA S.P.A.
SMHN SUESS MICROTEC AG
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
COL INMOBILIARIA COLONIAL SOCIMI SA
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
KBX KNORR-BREMSE AG
SHEL SHELL PLC
ARM ARM HOLDINGS PLC
- Jean Danjou
ODDO : Monday review – Luxury sector
>Topic of the week: around the world in a few lines - Ahead of the Q3 results season, we review the most recent evidence on luxury trends by geography, focusing on what has happened over the summer and how the coming winter season looks at this point. First things first, China; this is the place where the message is probably the most similar across luxury groups: persistent low traffic over the summer is set to result in a visible y-o-y decline in sales over Q3 (we ha...
- Research Department
INFORME DIARIO 07 0CTUBRE (ANÁLISIS BANCO SABADELL)
COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ENAGÁS, IBERDROLA, SANTANDER, TALGO. La guerra Israel/Irán no da tregua y se suma la campaña de resultados El temor a una escalada de la tensión en Oriente Medio llevó a un fuerte repunte del petróleo y caídas en las principales bolsas europeas que no pudieron ser totalmente revertidas a pesar de los buenos datos macro en EE.UU. Dentro de los sectoriales del STOXX 600, Energía destacó como el mejor sector seguido por Recursos Básicos mientras que Au...
- Ahmed Ben Salem
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 04/10/2024
Le lock-up de Wendel sur ses titres BVI expire le 6 octobre. Une cession d’actions BVI serait bénéfique à tous, selon nous : i/ pour BVI (Surperformance, OC 33 €), il augmenterait le flottant et la liquidité pour se rapprocher du CAC 40 (2025e) ; ii/ pour Wendel (Surperformance, OC relevé à 110 € vs 100 €), il lui donnerait les moyens de ses ambitions (AM pour tiers, mais aussi investissement direct et soutien M&A au portefeuille) et iii/ pour Wendel-Participations, il permettrait d’e...
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