View 
FILTERS (0)
* Not connected to ResearchPool

MORE FILTERS

  
reports
Research Department
  • Research Department

IBERIAN DAILY 22 NOVEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: BANKING SECTOR, COLONIAL, GRIFOLS, POSSIBLE TAX CHANGES. Doubts on the markets It was a session that improved in European stock markets after Nvidia’s results release, with the markets ending with moderate gains and the IBEX rising back above 11,600 points. Within the STOXX 600, Insurance and Energy led the gains, with Telecoms and Consumer Goods ending with the biggest losses. In the euro zone, November’s preliminary consumer confidence fell more than expected. On the macro side,...

Research Department
  • Research Department

INFORME DIARIO 22 NOVIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: COLONIAL, GRIFOLS, IMPUESTOS, SECTOR BANCARIO. EUROPA: AIR LIQUIDE, LINDE. Dudas en los mercados Jornada de menos a más tras los resultados de Nvidia en las bolsas europeas, que terminaron con subidas moderadas y con el Ibex recuperando los 11.600 puntos. Así, dentro del STOXX 600, Seguros y Energía lideraron las ganancias, frente a Telecos y Bienes de Consumo que terminaron con las mayores caídas. En la Eurozona la confianza del consumidor prelim...

Research Department
  • Research Department

IBERIAN DAILY 20 NOVEMBER (ANÁLISIS BANCO SABADELL)

NEWS SUMMARY: CAIXABANK, ENDESA, GRIFOLS, POSSIBLE TAX CHANGES, TALGO. Russia shakes markets The threat of using nuclear weapons by Russia after Ukraine used its long-range missiles on Russian territory led to corrections in European stock markets that eased throughout the session after the Foreign Minister S. Lavrov stressed that Russia does not wish nor expect a nuclear war. Thus, in the STOXX 600, Real Estate and Pharma were the only sectors ending with gains vs. Banks and Automobiles that ...

Research Department
  • Research Department

INFORME DIARIO 20 NOVIEMBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: CAIXABANK, GRIFOLS, IMPUESTOS ESPAÑA, TALGO. EUROPA: NOKIA. Rusia agita los mercados La amenaza de uso de armas nucleares por parte de Rusia después de que Ucrania utilizase sus misiles de largo alcance sobre territorio ruso deparó una sesión de caídas en Europa, que fueron moderándose a lo largo de la sesión después de que el ministro de exteriores ruso S. Lavrov remarcase que el país no desea ni espera una guerra nuclear. Así, dentro del STOXX 600...

Delphine Brault ... (+2)
  • Delphine Brault
  • Quentin Borie

Siemens AG : Un T4 légèrement meilleur qu’attendu, la guidance 2025, e...

>T4 2023/24 : commandes +10%, industrial profit 4% au-dessus des attentes - Les commandes T4 2023/24 progressent de 10% en comparable (consensus à 1.2%), à 22.9 Md€. Le book-to-bill atteint 1.1. Le chiffre d'affaires progresse de 2% en comparable à 20.8 Md€ (consensus à 1.4%) et l’EBITA industrial ajusté atteint 3 120 M€, soit une marge de 15.5% (vs 14.9% attendus par le consensus). L’industrial profit s’établit ainsi 4% au-dessus des attentes du consensus. Le BPA pre...

Delphine Brault ... (+2)
  • Delphine Brault
  • Quentin Borie

Siemens AG : Q4 slightly better than expected, 2025 guidance in line a...

>Q4 2023-24: orders +10%, industrial profit 4% above forecasts - Q4 2023-24 orders are up 10% l-f-l (consensus at 1.2%) at € 22.9bn. The book-to-bill was 1.1. Sales were up 2% l-f-l to € 20.8bn (consensus at 1.4%) and industrial EBITA was € 3,120m, i.e. a margin of 15.5% (vs 14.9% anticipated by the consensus). Industrial profit was thus 4% above consensus expectations. Pre-PPA EPS was € 2.57 (consensus at € 2.49).By division, DI (digital industries) saw its orde...

Pierre FerraguÊ
  • Pierre FerraguÊ

ASML 2024 CMD: What did we learn?

ASML hosted its 2024 CMD last week. This note follows our initial reaction on the company’s updated financial targets and our recent updated perspective on the broader semicap equipment sector and ASML. The event was particularly rich and will provide us with research topics for months to come. For a summary of our main takeaways, please follow the link below.

Research Department
  • Research Department

IBERIAN DAILY 18 NOVEMBER + 3Q’24 RESULTS. PREVIEWS (ANÁLISIS BANCO SA...

NEWS SUMMARY: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. At the end of today’s report, and during the entire results season, we will include a presentation with positive and negative results highlights and previews for the 3Q’24 results to be released over the coming days in Spain. Post-electoral phase in the US After the confirmation that the Republican Party obtained majority in the two parliamentary chambers and following some announcements or possible appointments...

Research Department
  • Research Department

INFORME DIARIO 18 NOVIEMBRE + RDOS. ESPAÑA 3T’24. PREVIEWS (ANÁLISIS B...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, ENDESA, GRIFOLS, MERLIN PROPERTIES, ROVI. EUROPA: PROSUS. 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. Mercados en fase post-electoral Durante la semana pasada los índices mundiales entraron en la fase post elect...

Ahmed Ben Salem
  • Ahmed Ben Salem

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/15/2024

Swiss-based Accelleron was formed from the spin-off of ABB’s highly profitable turbocharger division in 2022. We view the share as a promising investment on 1/ market leadership in an attractive niche, 2/ about ~40% ROCE, 3/ conversion of ~80% of EBITDA into cash, leading to fast deleveraging, and a solid base for shareholder remuneration (75% pay out), and 4/ strong long-term visibility linked to a ~75% service share, the bulk of which is recurring. Despite an already strong stock pe...

Alvaro del Pozo
  • Alvaro del Pozo

ASML HOLDING NV: MENSAJES DEL INVESTOR DAY 2024 (ANÁLISIS BANCO SABADE...

Del Investor Day’24, celebrado ayer por la tarde en Holanda, destacamos los siguientes mensajes:

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Stephane Houri

ASML : Successful CMD, outlook broadly unchanged, but much more AI-exp...

>Outperform rating maintained after CMD, TP € 950, or 41% upside - ASML yesterday held its 2024 CMD, during which it reaffirmed its 2030 guidance (issued initially in 2022) for revenues of € 44-60bn and a gross margin of 56-60%. This confirmation, coming less a month after the warning on 2025, was a relief (stock at +7%), as the group’s long-term outlook remains as solid. We found the new management very clear on what has changed since 2022, i.e. negatives with market...

Delphine Brault ... (+2)
  • Delphine Brault
  • Quentin Borie

Siemens AG : Approaching normalisation for DI and momentum is continui...

>Q4 2023-24 is reassuring on orders and FCF, EBITA is 4% > css - Order intake in Q4 2024 was € 21.9bn, +10% l-f-l (consensus at 1.2%). Digital Industries (DI) delivered a positive surprise, with orders down 6% (vs -12% for the consensus). The book-to-bill stood at 1.1x. Sales were up 2% l-f-l to € 21.8bn (consensus at 1.4%) and industrial profit was € 3,120m (3.9% > the consensus), i.e. a margin of 15.5% (vs 14.9% for the consensus). EPS before PPA was € 2.57 and...

Delphine Brault ... (+2)
  • Delphine Brault
  • Quentin Borie

Siemens AG : La normalisation approche pour DI et la dynamique se pour...

>Le T4 2023/24 rassure sur les commandes et le FCF, l’EBITA est 4% > au css - Les commandes au T4 2024 ont atteint 22.9 Md€, +10% en comparable (consensus à 1.2%). Digital Industries (DI) a surpris positivement, avec des commandes en recul de 6% (vs css -12%). Le book-to-bill atteint 1.1x. Le CA progresse de 2% en comparable à 20.8 Md€ (css à 1.4%) et l’industrial profit atteint 3 120 M€ (3.9% > au css), soit une marge de 15.5% (vs 14.9% pour le consensus). Le BP...

Research Department
  • Research Department

INFORME DIARIO 15 NOVIEMBRE + RDOS. ESPAÑA 3T’24. PREVIEWS (ANÁLISIS B...

COMPAÑÍAS QUE APARECEN EN EL INFORME: ESPAÑA: ACCIONA, ACCIONA ENERGÍA, CAF, CAIXABANK, COLONIAL, MERLIN. EUROPA: ASML, 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 BCE con el objetivo casi cumplido El Euro STOXX 50 tuvo su mejor día desde finales de septiembre mientras las ...

Martin Marandon-Carlhian ... (+2)
  • Martin Marandon-Carlhian
  • Stephane Houri

ASML : Un CMD réussi, des perspectives globalement inchangées, mais av...

>Opinion Surperformance réitérée après le CMD, OC 950 €, soit un upside de 41% - Hier ASML a tenu son CMD 2024, au cours duquel le groupe a réitéré ses objectifs 2030 (donnés initialement en 2022) d’un CA de 44 à 60 Md€ et d’une marge brute de 56/60%. Cette confirmation, venant moins d’un mois après l’avertissement sur 2025, a été un soulagement (titre à +7%) car les perspectives LT du groupe sont toujours aussi solides. Nous avons trouvé le nouveau management très cl...

Alfonso Mariategui
  • Alfonso Mariategui
Loading...
New interest

Save your current filters as a new Interest

Please enter a name for this interest

Email alerts

Would you like to receive real-time email alerts when a new report is published under this interest?

Save This Search

These search results will show up under 'Saved searches' in the left panel

Please enter a name for this saved search

ResearchPool Subscriptions

Get the most out of your insights

Get in touch