EVS Broadcast Equipment SA: 1 director

A director at EVS Broadcast Equipment SA sold 2,750 shares at 35.920EUR and the significance rating of the trade was 58/100. 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 yea...

Semicon West: 2026 outlook? Does AI drive growth? DRAM architectures? ...

Last week we attended the 2025 edition of the Semicon West conference, the key event for investors focused on the semiconductor equipment market. Over two days we hosted more than a dozen meetings with companies across the semiconductor value chain. Here are our key takeaways.

Morning Notes : ASM NA, UCB BB, SHUR BB

: ASM NA, UCB BB, SHUR BB

UCB Publishes Fintepla LGS open-label extension results in journal

UCB announced that the final analysis of an open-label extension (OLE) study on Fintepla (fenfluramine) in Lennox-Gastaut syndrome (LGS) was published in the Epilepsy and Behavior journal. This follows previous presentations at a medical conference and highlights the long-term sustained benefit and lack of new or unexpected safety signals, which we view as supportive of Fintepla's benefit in this patient population. For reference, Fintepla is one of UCB's 5 growth drivers, and we estimate peak s...

ODDO : Mémoire : Et si nous étions à l’aube d’un ‘supercycle’ ?

Les prix de la mémoire ont progressé de 15% sur un mois et de ~30% YTD. Cela reflète une forte tension sur l’offre alors que la demande IA est plus élevée qu’attendu. Les stocks de mémoires sont, par ailleurs, au plus bas, ouvrant la voie en 2026 à un supercycle, tiré par l’IA mais aussi par l’intégration de l’Edge AI dans les smartphones/PC. Un marché des semis à ~+15/20% en 2026 est crédible dans ce contexte. Dans notre couverture, cela devrait d’abord bénéficier à ASML, VAT, Siltronic, ASMi e...

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 10/13/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 13/10/2025

ODDO BHF SECURITIES Small & MIDCAP MORNING NEWS – 10/13/2025

ODDO BHF SECURITIES LARGE CAPS MORNING NEWS 13/10/2025

ODDO : Memory: What if we were on the eve of a super cycle?

Memory prices have risen by 15% m-o-m and by ~30% since the start of 2025. This reflects a tight supply situation, with demand for AI stronger than expected. Memory inventories are also at an all-time low, paving the way for a super cycle in 2026, driven by AI but also by the integration of Edge AI in smartphones/PCs. A semis market at ~+15-20% in 2026 is a credible scenario in this context. In our coverage, this should first benefit ASML, VAT, Siltronic, ASMi and SUSS (Outperform vs Neutral), f...

UCB Publishes pyrimidine nucleo(s)(t)ide therapy results in TK2d in jo...

UCB announced the publication of results from a multicenter retrospective chart review study of pyrimidine nucleo(s)(t)ide therapy in patients with thymidine kinase 2 deficiency (TK2d) in Neurology, which are in line with previous reports of the positive outcomes on survival and functional outcomes presented at a medical conference earlier this year. Note that TK2d is an ultra-rare genetic mitochondrial disease with no approved therapies, and has a prevalence of 1.64 per 1m people. Doxecitine an...

Morning Notes : UCB BB, VGP BB, ONWD BB

: UCB BB, VGP BB, ONWD BB

Vermilion Int'l Compass: Global Equity Strategy

Stick With Global Technology; China Breaking Out We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int'l Compass reports all echoing this sentiment. We will maintain our bullish intermediate-term view as long as market dynamics remain healthy and the SPX and ACWI-US are above 6028-6059 and $125-$126. Our bullish near-term outlook will remain in place as long as the 4+ month uptrend continues on ACWI...

Semicap and the $3tn AI bull-case: material upside, but well below the...

We published earlier this week our updated view on the Semicap rally, looking at the implication of AI spending tripling by 2030 for WFE spending. Today, we publish a follow-up looking at the implications of the $3tn AI bull case for Semicap on a single slide.

UCB SA: 2 directors

Two Directors at UCB SA sold after exercising options/sold 8,000 shares at between 248.275EUR and 252.680EUR. The significance rating of the trade was 100/100. 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 compan...

Morning Notes : EVS BB, EXM BB, GLPG NA, WKL NA, TKWY NA

: EVS BB, EXM BB, GLPG NA, WKL NA, TKWY NA

Dynamic Top Pick List Update October: Removing VGP – Adding Shurgard a...

In this October update of our Dynamic Top Pick List we are removing VGP while adding Shurgard and Wolters Kluwer. Since its recent inclusion in our Dynamic Top Pick List in July-25, VGPs share rose by 10.6%. While we still believe there is significant upside to the share price, we don't see short term catalysts. In fact, the macro picture remains cloudy with the jury still out on the impact of tariffs and the erratic US policy shifts. Also, we are a bit concerned that competition in Western Eur...

Benelux Morning Notes

AB InBev: On Track. UCB: Galvokimig, an opportunity for long-term growth

Morning Notes : AGFB BB, OPTI BB, EVS BB, TINC BB, UCB BB, CTPNV NA

: AGFB BB, OPTI BB, EVS BB, TINC BB, UCB BB, CTPNV NA

UCB Galvokimig R&D call highlights potential in AD, model update

Yesterday, UCB hosted an R&D call to highlight the phase 2a data for galvokimig from EADV 2025, which showed strong efficacy in atopic dermatitis (AD), with a 52.6% placebo-adjusted EASI75 response at week 12, outperforming other biologics in cross-trial comparison. The KOL highlighted galvokimig's potential for broad positioning across the AD treatment paradigm if the early data is replicated in later stage trials, especially as a monotherapy. We update our model for UCB, which brings us to a n...