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ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Anders Idborg
  • Karl Bokvist
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Simon Brun
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Simon Brun
Delphine Brault ... (+2)
  • Delphine Brault
  • Nathan Mietlicki

ODDO : 2026 : toujours une histoire de momentum

L’année 2026 verra, selon nous, une poursuite de la thématique momentum, aux dépens des styles value et qualité. Nous anticipons une accélération de l’amélioration de la marge (71 pb vs 36 pb en 2025e), tirée par le levier opérationnel, le pricing et la poursuite ou l’intensification des restructurations, ceci dans un environnement de croissance du CA toujours soutenue (5.1%e vs ~4.9% en 2025e). Si quelques dynamiques devraient rester fortes (datacenters, grid, rail, etc), d’autres émergeront (r...

Delphine Brault ... (+2)
  • Delphine Brault
  • Nathan Mietlicki

ODDO : 2026: still a momentum story

We expect that 2026 will see a continuation of the momentum theme, at the expense of value and quality styles. We expect margin improvement to accelerate (71bp vs 36bp in 2025e), driven by operating leverage, pricing and continued or intensified restructuring, against a backdrop of sustained sales growth (5.1%e vs ~4.9% in 2025e). While some dynamics are likely to remain strong (data centres, grid, rail, etc), others will take shape (Europe residential and US trucks in H2) or accelerate (semicon...

ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Anders Idborg
  • Karl Bokvist
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Simon Brun
ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Anders Idborg
  • Karl Bokvist
ABGSC Financials Research ... (+4)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Patrik Brattelius
  • Simon Brun
ABGSC Financials Research ... (+3)
  • ABGSC Financials Research
  • Fredrik Flørnes Støle
  • Simon Brun
ABGSC Capital Goods Research ... (+3)
  • ABGSC Capital Goods Research
  • Anders Idborg
  • Karl Bokvist
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