reports
Safran S.A.: 1 director
A director at Safran S.A. sold 2,095 shares at 208.000EUR and the significance rating of the trade was 83/100. 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 sho...
- Carole Braudeau
Credit Morning 04/30/2024
Iliad Holding plans to issue new bonds to fund the investment in Tele2 and a tender on Iliad Holding 2026 notesIsabel Marant: well preserved liquidity but further deep fall in the wholesale order bookVerisure markets new bonds with two special covenants linked to a potential IPOBUT/Mobilux: new bond offering with the inclusion of Conforama into the scope>...
- Michael B. Schäfer
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/30/2024
BHP's bid for Anglo American has confirmed interest from miners in copper in the context of increasingly challenged production and difficulties in fully completing projects. Anglo’s (Neutral) prospects in copper are now better valued and this is also the case for BHP (Neutral vs Underperform) although not so for Rio Tinto (Outperform vs Neutral). Downstream, Nexans and Montana Aerospace are our Top Picks (Outperform) vs Aurubis, Rexel and Prysmian (Neutral). - ...
TKA THYSSENKRUPP AG
DG VINCI SA
JMT JERONIMO MARTINS SGPS S.A.
GALP GALP ENERGIA SGPS SA CLASS B
ADS ADIDAS AG
MTX MTU AERO ENGINES AG
HO THALES SA
FORTUM FORTUM OYJ
WTB WHITBREAD PLC
DAI DAIMLER AG
QIA QIAGEN NV
RXL REXEL SA
VNA VONOVIA SE
CAP CAPGEMINI SE
NEM NEMETSCHEK SE
ABI ANHEUSER-BUSCH INBEV SA/NV
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
STMN STRAUMANN HOLDING AG
- Carole Braudeau
Morning Crédit 30/04/2024
Isabel Marant : liquidité supérieure aux attentes mais nouvelle chute du carnet de commandesBUT/Mobilux : Nouvelle émission obligataire avec intégration de Conforama dans le périmètreIliad Holding compte émettre des de nouvelles obligations pour financer l’investissement dans Tele2 et un tender sur la souche Iliad Holding 2026Verisure commercialise des nouvelles obligations avec deux covenants spéciaux liés à une potentielle IPO>...
- Michael B. Schäfer
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 30/04/2024
L’offre de BHP sur Anglo American a confirmé l’intérêt des minières pour le cuivre dans un contexte de tensions croissantes sur la production et de difficultés à faire aboutir les projets. Les perspectives d’Anglo (Neutre) dans le cuivre sont désormais mieux valorisées, c’est aussi le cas de BHP (Neutre vs Sous-performance) mais pas encore assez, selon nous, sur Rio Tinto (Surperformance vs Neutre). En aval, Nexans et Montana Aerospace sont nos valeurs préférées (Surperformance) vs Au...
TKA THYSSENKRUPP AG
DG VINCI SA
JMT JERONIMO MARTINS SGPS S.A.
GALP GALP ENERGIA SGPS SA CLASS B
ADS ADIDAS AG
MTX MTU AERO ENGINES AG
HO THALES SA
FORTUM FORTUM OYJ
WTB WHITBREAD PLC
DAI DAIMLER AG
QIA QIAGEN NV
RXL REXEL SA
VNA VONOVIA SE
CAP CAPGEMINI SE
NEM NEMETSCHEK SE
ABI ANHEUSER-BUSCH INBEV SA/NV
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
STMN STRAUMANN HOLDING AG
- Olfa Taamallah
- Yan Derocles
MTU Aero Engines : A slightly disappointing release
>Spares parts down by around 5% organically in Q1 - MTU (Neutral, TP -€190) has just reported its Q1 2024 results slightly disappointing with FCF coming slightly below consensus estimates and a lower performance at spares parts vs our estimates. EBITA is reported at € 218m, up 3% y-o-y (ODDO BHF: € 209m consensus: € 214m) and the margin stood at 13% vs 13.7% in Q1 2023, factoring in a negative mix effect (around 5% decline spares vs -3%e offset partially by higher spa...
- Olfa Taamallah
- Yan Derocles
MTU Aero Engines : A slightly disappointing release
>Spares parts down by around 5% organically in Q1 - MTU (Neutral, TP -€190) has just reported its Q1 2024 results slightly disappointing with FCF coming slightly below consensus estimates and a lower performance at spares parts vs our estimates. EBITA is reported at € 218m, up 3% y-o-y (ODDO BHF: € 209m consensus: € 214m) and the margin stood at 13% vs 13.7% in Q1 2023, factoring in a negative mix effect (around 5% decline spares vs -3%e offset partially by higher spa...
Figeac Aero: 1 director
A director at Figeac Aero maiden bought 8,000 shares at 5.500EUR and the significance rating of the trade was 54/100. 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 clea...
- Olfa Taamallah
- Yan Derocles
Thales : Impressive start to the year in Defence & Security (13.4% l-f...
>Q1 2024 sales 1.5% above css thanks to impressive Defence & Security start to the year - Thales just released a solid start to the year with sales 1.5% above expectations and order intake well ahead of street forecasts thanks to more orders in excess of € 100m than initially expected.Sales of € 4,421m were 1.5% above consensus expectations (ODDO BHF: € 4,383m, company compiled consensus: € 4,357m) with organic growth of 7.9%. This was mainly driven by i/ impres...
- Olfa Taamallah
- Yan Derocles
Thales : Impressive start to the year in Defence & Security (13.4% l-f...
>Q1 2024 sales 1.5% above css thanks to impressive Defence & Security start to the year - Thales just released a solid start to the year with sales 1.5% above expectations and order intake well ahead of street forecasts thanks to more orders in excess of € 100m than initially expected.Sales of € 4,421m were 1.5% above consensus expectations (ODDO BHF: € 4,383m, company compiled consensus: € 4,357m) with organic growth of 7.9%. This was mainly driven by i/ impres...
- Bruno Cavalier
- Jerôme Bodin
MC LVMH MOET HENNESSY LOUIS VUITTON SE
RI PERNOD RICARD SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
AMUN AMUNDI SA
VIV VIVENDI SE
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
BOL BOLLORE SA
01913 PRADA S.P.A.
MONC MONCLER SPA
MAP MAPFRE SA
SKF B SKF AB CLASS B
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
LIVS AUTOLIV INC. SDR
DHER DELIVERY HERO SE
STM STMICROELECTRONICS NV
DWS DWS GROUP GMBH & CO. KGAA
UMI UMICORE
8TRA TRATON SE
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SGSN SGS SA
TEN TENARIS S.A.
- Bruno Cavalier
- Jerôme Bodin
MC LVMH MOET HENNESSY LOUIS VUITTON SE
RI PERNOD RICARD SA
UHR SWATCH GROUP LTD. BEARER
RMS HERMES INTERNATIONAL SCA
EL ESSILORLUXOTTICA SA
AMUN AMUNDI SA
VIV VIVENDI SE
PHIA KONINKLIJKE PHILIPS N.V.
BRBY BURBERRY GROUP PLC
KER KERING SA
SAF SAFRAN S.A.
BOL BOLLORE SA
01913 PRADA S.P.A.
MONC MONCLER SPA
MAP MAPFRE SA
SKF B SKF AB CLASS B
BC BRUNELLO CUCINELLI S.P.A.
CFR COMPAGNIE FINANCIERE RICHEMONT SA
LIVS AUTOLIV INC. SDR
DHER DELIVERY HERO SE
STM STMICROELECTRONICS NV
DWS DWS GROUP GMBH & CO. KGAA
UMI UMICORE
8TRA TRATON SE
P911 DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT
SGSN SGS SA
TEN TENARIS S.A.
- Olfa Taamallah
- Yan Derocles
Safran : Neutral vs Outperform… pending the CMD
>Neutral vs Outperform - TP revised to € 220 - After gains of 30.8% ytd, the stock is now trading on best in class multiples for the European aerospace sector, with an EV/EBIT of 18.2x (premium of c.25%) and a discount limited to c5% vs GE Aero. Admittedly, Safran is the best-quality stock in our coverage universe and we do not see any clouds on the horizon, but investors seem to have already priced in an upward revision of the 2024 guidance. Furthermore, we believe t...
- Olfa Taamallah
- Yan Derocles
Safran : Neutre vs Surperformance… en attendant le CMD
>Neutre vs Surperformance - OC révisé à 220 € - Après une appréciation de 30.8% YtD, le titre se traite désormais sur des multiples de best in class dans le secteur aéronautique européen avec un multiple VE/EBIT de 18.2x (prime de c25%) et une décote limitée à c5% par rapport à GE Aero. Certes, Safran est le titre le plus qualitatif dans notre univers de couverture et nous ne percevons pas de nuage à l’horizon mais les investisseurs nous semblent avoir déjà intégré un...
- Ahmed Ben Salem
FP TOTAL SE
AC ACCOR SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EQNR EQUINOR ASA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
SK SEB SA
GFC GECINA SA
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
SKF B SKF AB CLASS B
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
STM STMICROELECTRONICS NV
UMI UMICORE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
DSY DASSAULT SYSTEMES SA
SGSN SGS SA
TEN TENARIS S.A.
- Ahmed Ben Salem
FP TOTAL SE
AC ACCOR SA
SGO COMPAGNIE DE SAINT-GOBAIN SA
EQNR EQUINOR ASA
DG VINCI SA
BVI BUREAU VERITAS SA
ADP AEROPORTS DE PARIS SA
AAL ANGLO AMERICAN PLC
SU SCHNEIDER ELECTRIC SE
BNP BNP PARIBAS SA CLASS A
SK SEB SA
GFC GECINA SA
RMS HERMES INTERNATIONAL SCA
RCO REMY COINTREAU SA
SAF SAFRAN S.A.
AIR AIRBUS SE
DTE DEUTSCHE TELEKOM AG
WPP WPP PLC
REP REPSOL SA
MOCORP METSO OUTOTEC OYJ
SKF B SKF AB CLASS B
INX IMCD N.V.
CLNX CELLNEX TELECOM S.A.
STM STMICROELECTRONICS NV
UMI UMICORE
BESI BE SEMICONDUCTOR INDUSTRIES N.V.
ULA UNIBAIL-RODAMCO-WESTFIELD SE STAPLED SECS CONS OF 1 SH UNIBAIL RODAMCO + 1 SH WFD UNIB ROD
ADYEN ADYEN NV
DSY DASSAULT SYSTEMES SA
SGSN SGS SA
TEN TENARIS S.A.
- Olfa Taamallah
- Yan Derocles
Safran : Q1 sales 1.2% above css with positive mix – FY 2024 guidance ...
>Q1 2024 sales 1.2% above css thanks to volume recovery in Equipment and services across the board - Q1 2024 sales came out 1.2% above consensus expectations at € 6,220m (ODDO BHF: € 6,080m, company compiled css: € 6,145m), showing a 19.1% l-f-l increase. In details:Propulsion sales were up 15.4% l-f-l to € 3,097m thanks to a solid civil aftermarket growth of 27.3% (vs 24% expected) driven by stronger-than-expected growth in LTSA (CFM56 and Leap) as well as incre...
- Alvaro del Pozo
- Olfa Taamallah
- Yan Derocles
Safran : Q1 sales 1.2% above css with positive mix – FY 2024 guidance ...
>Q1 2024 sales 1.2% above css thanks to volume recovery in Equipment and services across the board - Q1 2024 sales came out 1.2% above consensus expectations at € 6,220m (ODDO BHF: € 6,080m, company compiled css: € 6,145m), showing a 19.1% l-f-l increase. In details:Propulsion sales were up 15.4% l-f-l to € 3,097m thanks to a solid civil aftermarket growth of 27.3% (vs 24% expected) driven by stronger-than-expected growth in LTSA (CFM56 and Leap) as well as incre...
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.