reports
- Louis AZAIS
Short term view - COCA-COLA HBC : Major resistance reinstated.
The trend remains neutral. Prices will have to break above the peak at 2,682.00 p for the trend to be positive again with an invalidation level below 2,429.00 p.Arguments :- The support has been reached, it causes the bounce.- The major resistance has been shortly breached, but it is now reinstated. Prices can fall.- The moving average is supporting prices.
- Louis AZAIS
Analyse court terme - COCA-COLA HBC : Résistance majeure réintégré...
La tendance est toujours neutre. Il faut franchir le sommet à 2 682,00 p pour que la tendance devienne positive avec une invalidation sous 2 429,00 p.Arguments :- Le support est atteint, il cause le rebond.- La résistance majeure a été dépassée, mais elle est réintégrée. Les prix peuvent baisser.- La moyenne mobile sert de support.
- Research Team
WOOD Morning (10 May)
HEADLINES: * Moneta Money Bank: strong set of numbers, ahead of the consensus, 2018E outlook revised up slightly POSITIVE * Bank Pekao: 1Q18 - neutral set of results; solid NII, but slightly weaker F&C NEUTRAL * mBank: 1Q18 in line with expectations - strong F&C result and lower provisions POSITIVE * Alior Bank: 1Q18 in line with expectations - points to strong delivery being quite feasible in 2018E NEUTRAL * Coca-Cola HBC: 1Q18 trading update - weak delivery in Emerging segment d...
PEO BANK POLSKA KASA OPIEKI SA
ARHOF AMREST HOLDING
DOAS DOGUS OTOMOTIV SERVIS VE TICARET A.S.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
ENKAI ENKA INSAAT VE SANAYI A.S.
AYGAZ AYGAZ A.S.
THYAO TURK HAVA YOLLARI A.O.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
CPS CYFROWY POLSAT SA
ALR ALIOR BANK SA
PKP PKP CARGO
ROSN ROSNEFT OIL CO. SPONSORED GDR REGS
MONET MONETA MONEY BANK AS
TPEIR PIRAEUS FINANCIAL HOLDINGS S.A.
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
CCH COCA-COLA HBC
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
HTO OTE
UQA AV UNIQA INSURANCE GROUP
- Alex Boulougouris
- Research Team
Greece: Keep calm, this time it is real! (AEGN, ALPHA, BELA, CCH, ELPE...
We are bullish on the Greek equities in 2018E for three key reasons: 1) the very low valuations in the banking sector (0.4x P/TBV), with solid capital buffers; 2) the good stories in the non-financials space, with solid selective BUYs in both the large and mid-cap spaces; and, 3) the improving GDP outlook, as Greece is heading for another year of (albeit boring) GDP growth in the region of 2%. On the negative side, the sovereign yield tightening theme is coming to an end (we already assume a 4% ...
OPAP GREEK ORGANISATION OF FOOTBALL PROGNOSTICS SA
EXAE HELLENIC EXCHANGES SA
ELPE HELLENIC PETROLEUM SA
TITK TITAN CEMENT CO. SA
FOYRK FOURLIS HOLDINGS S.A.
MYTIL MYTILINEOS S.A.
SAR GR. SARANTIS S.A.
EUPRO GRIVALIA PROPERTIES REIC
AEGN AEGEAN AIRLINES SA
ETE NATIONAL BANK OF GREECE S.A.
PPC PUBLIC POWER CORPORATION S.A.
PPA PIRAEUS PORT AUTHORITY S.A.
OTOEL AUTOHELLAS S.A.
TPEIR PIRAEUS FINANCIAL HOLDINGS S.A.
CCH COCA-COLA HBC
HTO OTE
BELA JUMBO
ALPHA ALPHA BANK
- Research Team
WOOD Morning (25 April)
HEADLINES: * Coca-Cola HBC: entering choppy waters (downgraded to SELL) * Getin Noble Bank: plans to raise capital and issue debt * Turkcell: 1Q18 results - 18% NI miss and a mixed bag of results due to drastic IFRS changes NEGATIVE * Bizim Toptan: 1Q18 results - 26% beat on EBITDA, driven primarily by gross margin POSITIVE * Banca Transilvania: 1Q18 results above expectations POSITIVE * Emlak Konut: cancels the tender for a TRY 423m RSM project NEGATIVE * Bank Millennium:...
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
AEFES ANADOLU EFES BIRACILIK VE MALT SANAYII A.S.
BIZIM BIZIM TOPTAN SATIS MAGAZALARI AS
EKGYO EMLAK KONUT GAYRIMENKUL YATIRIM ORTAKLIGI A.G.
TLV BANCA TRANSILVANIA S.A.
NIIS NAFTNA INDUSTRIJA SRBIJE NOVA SAD
CCH COCA-COLA HBC
UNIP UNIPETROL
- Jakub Mician
- Lukasz Wachelko
- CFA
Coca-Cola HBC: Entering choppy waters (downgraded to SELL)
In this report, we have downgraded Coca-Cola HBC (CCHBC) to SELL, from Hold, with a new price target (PT) of GBp 2,205/share (from GBp 2,682/share), implying 11% downside potential. Even though the company’s share price has faced a c.8% sell-off since early-April, we believe a further correction could be expected in the near term on the back of: i) short-term headwinds expected in Russia and Nigeria; ii) an unlikely further consensus rerating, with the 2020E EBIT guidance of 11% priced in alre...
- Louis AZAIS
Short term view - COCA-COLA HBC : The moving average is supporting pri...
The trend remains neutral. Prices will have to break above the peak at 2,682.00 p for the trend to be positive again with an invalidation level below 2,429.00 p.Arguments :- The support has been breached.- The major resistance has been shortly breached, but it is now reinstated. Prices can fall.- The moving average is supporting prices.
- Louis AZAIS
Analyse court terme - COCA-COLA HBC : La moyenne mobile sert de suppor...
La tendance est toujours neutre. Il faut franchir le sommet à 2 682,00 p pour que la tendance devienne positive avec une invalidation sous 2 429,00 p.Arguments :- Le support est enfoncé.- La résistance majeure a été dépassée, mais elle est réintégrée. Les prix peuvent baisser.- La moyenne mobile sert de support.
- Louis AZAIS
- Louis AZAIS
- Louis AZAIS
Short term view - COCA-COLA HBC : The support has been reached, it cau...
The trend remains neutral. Prices will have to break above the peak at 2,650.00 p for the trend to be positive again with an invalidation level below 2,348.00 p.Arguments :- The support has been reached, it causes the bounce.- The resistance has been passed.- Prices are breaking above the moving average.
- Louis AZAIS
Analyse court terme - COCA-COLA HBC : Le support est atteint, il cause...
La tendance est toujours neutre. Il faut franchir le sommet à 2 650,00 p pour que la tendance devienne positive avec une invalidation sous 2 348,00 p.Arguments :- Le support est atteint, il cause le rebond.- La résistance est dépassée.- Les prix dépassent la moyenne mobile.
- Research Team
The Rear-View Mirror – CEE markets: Moscow MICEX the regional top pe...
EME Equity Market – February 2018 Market performance –Moscow the regional top performer in February. In February, the MSCI EME lost 1.1% mom in EUR terms, vs. the 6.6% gain in the previous month. The largest rate of return in February was realised by the MICEX, up 2.1%, followed by Bucharest’s BET (+0.9% mom) and the Turkish ISE30 (+0.7%). The other regional indices ended the month in negative territory, with Warsaw’s WIG20 recording the largest drop (-7.9%) and Budapest’s BUX followin...
PEO BANK POLSKA KASA OPIEKI SA
KER KERNEL HOLDING S.A.
EXAE HELLENIC EXCHANGES SA
ATRS ATRIUM EUROPEAN REAL ESTATE LIMITED
EBS ERSTE GROUP BANK AG
BOCH BANK OF COMMERCE HOLDINGS
ELPE HELLENIC PETROLEUM SA
IMO1 IMMOFINANZ AG
PGN POLSKIE GORNICTWO NAFTOWE I GAZOWNICTWO SA
ISCTR TURKIYE IS BANKASI ANONIM SIRKETI CLASS C
KOMB KOMERCNI BANKA A.S.
CETV CENTRAL EUROPEAN MEDIA ENTERPRISES LTD. CL A
BHW BANK HANDLOWY W WARSZAWIE S.A.
FP FONDUL PROPRIETATEA
ARHOF AMREST HOLDING
SIF2 SIF MOLDOVA S.A.
WIZZ WIZZ AIR HOLDINGS PLC
PZU POWSZECHNY ZAKLAD UBEZPIECZEN SPOLKA AKCYJNA
DOAS DOGUS OTOMOTIV SERVIS VE TICARET A.S.
SPL SANTANDER BANK POLSKA SA
MIL BANK MILLENNIUM SA
BSK ING BANK SLASKI S.A.
MTELEKOM MAGYAR TELEKOM TELECOMMUNICATIONS
TPS ORANGE POLSKA S.A.
PKN POLSKI KONCERN NAFTOWY ORLEN S.A.
MYTIL MYTILINEOS S.A.
LPP LPP S.A.
AKBNK AKBANK TAS
ASELS ASELSAN ELEKTRONIK SANAYI VE TICARET A.S. CLASS B
ENKAI ENKA INSAAT VE SANAYI A.S.
CCC CCC SA
CCOLA COCA-COLA ICECEK A.S.
EUPRO GRIVALIA PROPERTIES REIC
HALKB TURKIYE HALK BANKASI ANONIM SIRKETI
ENA ENEA S.A.
BIZIM BIZIM TOPTAN SATIS MAGAZALARI AS
LWB LUBELSKI WEGIEL BOGDANKA S.A.
PGE PGE POLSKA GRUPA ENERGETYCZNA S.A.
EKGYO EMLAK KONUT GAYRIMENKUL YATIRIM ORTAKLIGI A.G.
AFLT AEROFLOT RUSSIAN AIRLINES
GNB GETIN NOBLE BANK SA
PGSUS.E PEGASUS HAVA TASIMACILIGI AS
LVC LIVECHAT SOFTWARE SA
GHG GEORGIA HEALTHCARE GROUP
ETE NATIONAL BANK OF GREECE S.A.
PPC PUBLIC POWER CORPORATION S.A.
PPA PIRAEUS PORT AUTHORITY S.A.
CAR INTER CARS S.A.
AYGAZ AYGAZ A.S.
FROTO FORD OTOMOTIV SANAYI A.S.
OTKAR OTOKAR OTOMOTIV VE SAVUNMA SANAYI A.S.
TUPRS TURKIYE PETROL RAFINERILERI A.S.
SAHOL HACI OMER SABANCI HOLDING A.S.
EUR EUROCASH S.A.
LTS GRUPA LOTOS S.A.
VAKBN TURKIYE VAKIFLAR BANKASI TURK ANONIM ORTAKLIGI
GSPARK GRAPHISOFT PARK SE
TKFEN TEKFEN HOLDING
CPS CYFROWY POLSAT SA
GPW WARSAW STOCK EXCHANGE
TPE TAURON POLSKA ENERGIA S.A.
MDG MEDICALGORITHMICS SA
ALR ALIOR BANK SA
OTOEL AUTOHELLAS S.A.
PKP PKP CARGO
ICD ENERGA SA
HB HELLENIC BANK LTD.
WPL WIRTUALNA POLSKA HOLDING SA
BRD BRD-GROUPE SOCIETE GENERALE
TLV BANCA TRANSILVANIA S.A.
NVTK NOVATEK JSC SPONSORED GDR REGS
TBCG TBC BANK GROUP
N7MG NLMK (GDR)
SVST SEVERSTAL (GDR)
TELEC O2 CZECH REPUBLIC A.S.
MONET MONETA MONEY BANK AS
SNG SOCIETATEA NATIONALA DE GAZE NATURALE ROMGAZ SA
SIF3 SIF TRANSILVANIA S.A.
SNP PETROM S.A.
TOFAS TOFAS TURK OTOMOBIL FABRIKASI A.S.
5M71 MAGNIT PJSC SPONSORED GDR REGS
SIF1 SIF BANAT-CRISANA S.A.
MMK MAGNITOGORSK IRON & STEEL WORKS (GDR)
EREGL ERDEMIR
PLY PLAY COMMUNICATIONS SA
TPEIR PIRAEUS FINANCIAL HOLDINGS S.A.
VTBR VTB BANK (GDR)
PFL PFLEIDERER GROUP SA
DIGI DIGI COMMUNICATIONS NV
SIF5 SOCIETATEA DE INVESTITII FINANCIARE OLTENIA SA
MOL MOL HUNGARIAN OIL & GAS PLC CLASS A
NIIS NAFTNA INDUSTRIJA SRBIJE NOVA SAD
COTE CONPET SA
SNN SOCIETATEA NATIONALA NUCLEARELECTRICA SA
TEL C.N.T.E.E. TRANSELECTRICA
ELSA SOCIETATEA ENERGETICA ELECTRICA
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
0RO5 MEDLIFE
CCH COCA-COLA HBC
GEB BANK OF GEORGIA
DOC DO&CO
FTE FORTE
TGN SOCIETATEA NATIONALA DE TRANSPORT GAZE NATURALE TRANSGAZ S.A.
KAZ LN KAZ MINERALS
HTO OTE
SIF4 SIF MUNTENIA S.A.
JSW JSW
RICHT RICHTER
SAB1L SIAULIU BANKAS
SBER03 SBERBANK
GARAN GARANTI BANK
CEZ CEZ
OMV OMV
EVR EVRAZ
UNIP UNIPETROL
- Research Team
WOOD Morning (14 February)
HEADLINES: * PGNiG: 4Q17 results - EBITDA below expectations on weak trading NEGATIVE * Tauron: preliminary 4Q17 results NEUTRAL * Vakifbank: 4Q17 wrap-up - nothing unexpected, but positive bias on forward-looking assumptions POSITIVE * Bank Handlowy: 4Q17 in line; declaration of ability to pay DPS (no hard numbers given) NEUTRAL * Coca-Cola HBC: 2H17 results - in line across the board NEUTRAL * Bucharest Stock Exchange: 4Q17 boosted by acquisition gain NEUTRAL * Polish bank...
BHW BANK HANDLOWY W WARSZAWIE S.A.
VAKBN TURKIYE VAKIFLAR BANKASI TURK ANONIM ORTAKLIGI
ECH ECHO INVESTMENT
TPE TAURON POLSKA ENERGIA S.A.
MDG MEDICALGORITHMICS SA
TLV BANCA TRANSILVANIA S.A.
PFL PFLEIDERER GROUP SA
HTO GA OTE
BVB S.C. BURSA DE VALORI BUCURESTI S.A.
CCH COCA-COLA HBC
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.