reports
- Delphine Brault
- Quentin Borie
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2024
America’s solid economy and Europe’s improving macro sentiment have prompted us to reiterate our winning calls: long USA vs Europe and - within Europe - long Cyclicals vs Defensives. Also within Europe, we are switching to long Value vs Growth and have overhauled our sector allocation ; furthermore it nows incorporates a chart analysis. Our favourite sectors are as follows: Banks, Financial Services, Insurance, Media, Energy, Industrial Goods & Services, Travel & Leisure, Constructio...
- Delphine Brault
- Quentin Borie
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/04/2024
La solidité de l’économie américaine et l’amélioration du sentiment macroéconomique en Europe nous conduisent à maintenir nos calls gagnants : long USA vs Europe et - en Europe - long Cycliques vs Défensives. Toujours en Europe, nous basculons long Value vs Growth et modifions en profondeur notre allocation sectorielle ; nous y intégrons également une analyse chartiste. Nos secteurs préférés sont : Banks, Financial Services, Insurance, Media, Energy, Industrial Goods & Services, Tra...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
Commerzbank : Outlook for shareholder returns still credible...and und...
>Outperform recommendation - Target price lifted to € 15.8 (vs € 15.0) - FY 2023 confirmed Commerzbank’s recovery on both the operational (underlying) and balance sheet (notably capital) fronts, and helped to underpin the credible prospect of a significant improvement in shareholder returns in the short and medium terms (main focus of our investment case). We therefore reiterate our Outperform recommendation but have slightly raised our target price to € 15.8 (vs € 15...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
Commerzbank : Une perspective de retour à l’actionnaire toujours crédi...
>Opinion Surperformance – OC porté à 15.8 € (vs 15.0 €) - L’exercice 2023 a confirmé le redressement tant sur le plan opérationnel (underlying) que bilanciel (notamment capital) de Commerzbank, et In fine conforter la perspective crédible d’amélioration significative du retour à l’actionnaire à CMT (axe principal de notre investment case). Nous réitérons notre opinion Surperformance tout en portant notre OC à 15.8 € (vs 15.0 €) après un ajustement à la hausse de nos a...
Invitation to Annual General Meeting of Commerzbank on 30 April 2024
Commerzbank Aktiengesellschaft (CZB) Invitation to Annual General Meeting of Commerzbank on 30 April 2024 20-March-2024 / 15:39 CET/CEST The issuer is solely responsible for the content of this announcement. Decision on dividend proposal of €0.35 per share and on authorisation to execute share buybacks on agenda Once again virtual format with right to speak and ask questions live at the event Today, Commerzbank AG has published the invitation to its Annual General Meeting on Tuesday, 30 April 2024. The event will take place virtually without the physical presence of the sharehold...
EQS-News: Commerzbank lädt zur Hauptversammlung am 30. April 2024 ein
EQS-News: Commerzbank Aktiengesellschaft / Schlagwort(e): Hauptversammlung Commerzbank lädt zur Hauptversammlung am 30. April 2024 ein 20.03.2024 / 15:36 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Entscheidung über Dividendenvorschlag in Höhe von 0,35 Euro pro Aktie und über Ermächtigung zu Aktienrückkäufen auf der Tagesordnung Erneut virtuelles Format mit Live-Rede-und-Frage-Recht Die Commerzbank AG hat heute die Einladung zu ihrer ordentlichen Hauptversammlung am Dienstag, 30. April 2024, veröffentlicht. Diese findet auf Grund...
EQS-News: Invitation to Annual General Meeting of Commerzbank on 30 Ap...
EQS-News: Commerzbank Aktiengesellschaft / Key word(s): AGM/EGM Invitation to Annual General Meeting of Commerzbank on 30 April 2024 20.03.2024 / 15:36 CET/CEST The issuer is solely responsible for the content of this announcement. Decision on dividend proposal of €0.35 per share and on authorisation to execute share buybacks on agenda Once again virtual format with right to speak and ask questions live at the event Today, Commerzbank AG has published the invitation to its Annual General Meeting on Tuesday, 30 April 2024. The event will take place virtually without the p...
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF Small & MIDCAP MORNING NEWS - 03/14/2024
Banks tick all the boxes in the market’s current configuration: search for discounted sectors, cyclical momentum, sectors driven by long-term interest rates that remain high and shareholder returns through very high dividend yields. Technical analysis reveals a strong conviction since early March, and this should continue. We prefer banks in southern Europe, where the macro outlook is brighter. Alongside CaixaBank, which we are maintaining in our list of European Large Cap stocks, we ...
CSGN CREDIT SUISSE GROUP AG
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
BFIT BASIC-FIT NV
PBB DEUTSCHE PFANDBRIEFBANK AG
IDL ID LOGISTICS GROUP
INF INFOTEL SA
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
LXS LANXESS AG
ASY ASSYSTEM SA
KCO KLOECKNER & CO SE
JCQ JACQUET METALS SA
CDA COMPAGNIE DES ALPES SA
ISP INTESA SANPAOLO S.P.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
SHA SCHAEFFLER AG
IDIP INSTITUT DE DEVELOPPEMENT INDUSTRIEL SCA
ERG ERG S.P.A.
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
DMP DERMAPHARM HOLDING SE
MOR MORPHOSYS AG
SAB BANCO DE SABADELL SA
2CRSI 2CRSI SA
TITC TITAN CEMENT INTERNATIONAL N.V.
SRAIL STADLER RAIL AG
SFQ SAF-HOLLAND SE
BLV BELIEVE SA
BAI BENEVOLENTAI
- Baptiste Salaville
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/14/2024
Banks tick all the boxes in the market’s current configuration: search for discounted sectors, cyclical momentum, sectors driven by long-term interest rates that remain high and shareholder returns through very high dividend yields. Technical analysis reveals a strong conviction since early March, and this should continue. We prefer banks in southern Europe, where the macro outlook is brighter. Alongside CaixaBank, which we are maintaining in our list of European Large Cap stocks, we ...
CSGN CREDIT SUISSE GROUP AG
AC ACCOR SA
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
PBB DEUTSCHE PFANDBRIEFBANK AG
GLE SOCIETE GENERALE S.A. CLASS A
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
SDF K+S AG
ZAL ZALANDO SE
ISP INTESA SANPAOLO S.P.A.
GEBN GEBERIT AG
RWE RWE AG
BCP BANCO COMERCIAL PORTUGUES S.A.
VOW3 VOLKSWAGEN AG PREF
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
HLAG HAPAG-LLOYD AG
UNI UNICAJA BANCO S.A.
BIM BIOMERIEUX SA
REY REPLY S.P.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
ALG ALLEGRO.EU SA
- Baptiste Salaville
- Benoit Valleaux
- Steven Gould
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/03/2024
Les banques cochent toutes les cases de la configuration de marché actuelle : recherche de secteurs décotés, momentum cyclique, secteurs portés par des taux longs qui restent hauts, retour à l’actionnaire via un très haut dividend yield. L’analyse technique montre une forte conviction depuis début mars, qui devrait se poursuivre. Nous favorisons les banques du sud de l’Europe, à la macro plus avenante. Aux côtés de CaixaBank, que nous conservons dans notre liste de valeurs Large Caps ...
CSGN CREDIT SUISSE GROUP AG
AC ACCOR SA
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
PBB DEUTSCHE PFANDBRIEFBANK AG
GLE SOCIETE GENERALE S.A. CLASS A
RHM RHEINMETALL AG
KBC KBC GROUP N.V.
SDF K+S AG
ZAL ZALANDO SE
ISP INTESA SANPAOLO S.P.A.
GEBN GEBERIT AG
RWE RWE AG
BCP BANCO COMERCIAL PORTUGUES S.A.
VOW3 VOLKSWAGEN AG PREF
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
MERLIN MERLIN PROPERTIES SOCIMI S.A.
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
HLAG HAPAG-LLOYD AG
UNI UNICAJA BANCO S.A.
BIM BIOMERIEUX SA
REY REPLY S.P.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
ALG ALLEGRO.EU SA
- Benoit Valleaux
- Steven Gould
ODDO : Sector multiples do not reflect the improved resilience of the ...
>What are the main lessons from Q4/FY 2023 earnings? - Q4 earnings release have confirmed our view on the sector detailed early December. We expected net interest income to be this year relatively flattish in Italy and Spain, to decrease on some names in the Benelux (ING) and to increase for French banks, which is consistent with 2024 outlook given by banks. We therefore did not play a country rotation in favour of North European banks vs South European banks, and we ...
CSGN CREDIT SUISSE GROUP AG
UBSN UBS GROUP AG
BNP BNP PARIBAS SA CLASS A
DBK DEUTSCHE BANK AG
CBK COMMERZBANK AG
PBB DEUTSCHE PFANDBRIEFBANK AG
GLE SOCIETE GENERALE S.A. CLASS A
KBC KBC GROUP N.V.
ISP INTESA SANPAOLO S.P.A.
BCP BANCO COMERCIAL PORTUGUES S.A.
BKT BANKINTER SA
VLK VAN LANSCHOT KEMPEN NV CERT. OF SHS
UCG UNICREDIT S.P.A.
CABK CAIXABANK SA
INGA ING GROEP NV
SAN BANCO SANTANDER S.A.
UNI UNICAJA BANCO S.A.
BBVA BANCO BILBAO VIZCAYA ARGENTARIA S.A.
SAB BANCO DE SABADELL SA
EQS-News: Commerzbank schließt Aktienrückkauf über 600 Millionen Euro ...
EQS-News: Commerzbank Aktiengesellschaft / Schlagwort(e): Aktienrückkauf Commerzbank schließt Aktienrückkauf über 600 Millionen Euro erfolgreich ab 05.03.2024 / 18:48 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Insgesamt 55.554.320 eigene Aktien zurückgekauft (4,48 % des Grundkapitals) Finanzvorständin Bettina Orlopp: „Der Erfolg bestärkt uns in unserem Vorhaben, bei der Kapitalrückgabe auch künftig auf eine Kombination aus Aktienrückkäufen und Dividendenzahlungen zu setzen.“ Die Commerzbank AG hat ihr Aktienrückkaufprogramm am ...
EQS-News: Commerzbank successfully completes share buyback of €600 mil...
EQS-News: Commerzbank Aktiengesellschaft / Key word(s): Share Buyback Commerzbank successfully completes share buyback of €600 million 05.03.2024 / 18:48 CET/CEST The issuer is solely responsible for the content of this announcement. In total 55,554,320 own shares repurchased (4.48% of the share capital) CFO Bettina Orlopp: “The success reinforces our intention to continue a combination of share buybacks and dividend payments when it comes to capital return.” Today, Commerzbank AG successfully completed its share buyback programme. The second programme of its history sta...
Commerzbank successfully completes share buyback of €600 million
Commerzbank Aktiengesellschaft (CZB) Commerzbank successfully completes share buyback of €600 million 05-March-2024 / 18:51 CET/CEST The issuer is solely responsible for the content of this announcement. In total 55,554,320 own shares repurchased (4.48% of the share capital) CFO Bettina Orlopp: “The success reinforces our intention to continue a combination of share buybacks and dividend payments when it comes to capital return.” Today, Commerzbank AG successfully completed its share buyback programme. The second programme of its history started on 10 January. Since then, the Ban...
- Julian Dobrovolschi
FP TOTAL SE
ENX EURONEXT NV
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
RNO RENAULT SA
COV COVIVIO SA
CBK COMMERZBANK AG
RI PERNOD RICARD SA
ENI ENI S.P.A.
REP REPSOL SA
KGX KION GROUP AG
TIT TELECOM ITALIA S.P.A.
INX IMCD N.V.
AD KONINKLIJKE AHOLD DELHAIZE N.V.
BP. BP P.L.C.
UMI UMICORE
SIK SIKA AG
FDJ LA FRANCAISE DES JEUX SA
STLA STELLANTIS N.V.
AZE AZELIS GROUP NV
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
UN0 UNIPER SE
- Bruno Cavalier
- Julian Dobrovolschi
FP TOTAL SE
ENX EURONEXT NV
EQNR EQUINOR ASA
GALP GALP ENERGIA SGPS SA CLASS B
RNO RENAULT SA
COV COVIVIO SA
CBK COMMERZBANK AG
RI PERNOD RICARD SA
ENI ENI S.P.A.
REP REPSOL SA
KGX KION GROUP AG
TIT TELECOM ITALIA S.P.A.
INX IMCD N.V.
AD KONINKLIJKE AHOLD DELHAIZE N.V.
BP. BP P.L.C.
UMI UMICORE
SIK SIKA AG
FDJ LA FRANCAISE DES JEUX SA
STLA STELLANTIS N.V.
AZE AZELIS GROUP NV
SHEL SHELL PLC
DSFIR KONINKLIJKE DSM N.V.
UN0 UNIPER SE
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
Commerzbank : Q4 2023: the key element is guaranteed, namely the impro...
>Outperform rating confirmed – Target price slightly adjusted to € 15.0 (vs € 15.5) - The data for Q4/full-year 2023 confirmed the broadly favourable trend, both on the operating (underlying) front and balance sheet (notably capital) for Commerzbank. Aside from several subtleties/details, this ultimately underpins the key element, which is the credible outlook of a significant improvement in returns to shareholders in the short to medium term. We thus reiterate our Ou...
- Roland Pfaender
- MBA
- CFA
- CCRA
- Steven Gould
Commerzbank : T4 2023 : l’essentiel est assuré à savoir l’amélioration...
>Opinion Surperformance confortée – OC légèrement ramené à 15.0 € (vs 15.5 €) - Les chiffres au T4/annuels 2023 sont venus confirmer l’évolution globalement favorable tant sur le plan opérationnel (underlying) que bilanciel (notamment capital) pour Commerzbank. Au-delà de quelques subtilités/détails, ils viennent conforter l’essentiel à savoir la perspective crédible d’amélioration significative du retour à l’actionnaire à CMT. Nous réitérons ainsi notre opinion Surpe...
Commerzbank AG: 1 director
A director at Commerzbank AG bought 14,258 shares at 10.862EUR and the significance rating of the trade was 65/100. 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 clearl...
- Carole Braudeau
Credit Morning 02/15/2024
Early release of splendid Q1 24 results, Douglas indicates capital structure changes Verallia: after weak volumes in Q4, the group targets a rebound in H2 2024 Mercialys: after a satisfactory 2023, the company's profile should improve in 2024 following the gradual departure of CasinoS&P downgraded PBB to BBB-/negative and Fitch downgraded Aareal to BBB/stable>...
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.