reports
- Louis Boujard
- CFA
- Philippe Ourpatian
- Louis Boujard
- CFA
- Philippe Ourpatian
- Carole Braudeau
- Roy Külter
- Steven Boumans
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/06/2024
Our baseline scenario materialised last night: Donald Trump seems to be on course to win the US presidential election, and the choice of the electorate is unlikely to be challenged. He could end up with a majority in both houses of Congress. US equities will be the first to benefit from this development. In European equities, the biggest winners will be Energy, Media, Metals, Construction & Materials, Financial Services and Insurance. More at risk, however, are the Utilities, Spirits,...
V1S ARKEMA
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
UBSN UBS GROUP AG
PUM PUMA SE
EN BOUYGUES SA
VNA VONOVIA SE
ORSTED ORSTED
FRE FRESENIUS SE & CO. KGAA
NEX NEXANS SA
HEN3 HENKEL AG & CO. KGAA PREF
EDW EDP RENOVAVEIS SA
EVK EVONIK INDUSTRIES AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
COLO B COLOPLAST A/S CLASS B
RACE FERRARI NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
AZN ASTRAZENECA PLC
VOD VODAFONE GROUP PLC
SHL SIEMENS HEALTHINEERS AG
NEOEN NEOEN S.A.
VWS VESTAS WIND SYSTEMS
CTPNV CTP NV
NOVO B NOVO NORDISK A/S
UN0 UNIPER SE
- Carole Braudeau
- Roy Külter
- Steven Boumans
- Thomas Zlowodzki
ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/11/2024
Notre scénario central s’est concrétisé dans la nuit : Donald Trump remporte la présidentielle américaine, et le choix des électeurs ne devrait pas être contesté. Il pourrait disposer d’une majorité dans les deux assemblées. Les actions américaines en seront les premières bénéficiaires. Sur les actions européennes, les secteurs les plus gagnants seront l’Energie, les Médias, les Métaux, Construction & Materials, Financial Services, Insurance. Sont en revanche plus à risque Utilities, ...
V1S ARKEMA
BMW BAYERISCHE MOTOREN WERKE AKTIENGESELLSCHAFT
UBSN UBS GROUP AG
PUM PUMA SE
EN BOUYGUES SA
VNA VONOVIA SE
ORSTED ORSTED
FRE FRESENIUS SE & CO. KGAA
NEX NEXANS SA
HEN3 HENKEL AG & CO. KGAA PREF
EDW EDP RENOVAVEIS SA
EVK EVONIK INDUSTRIES AG
INW INFRASTRUTTURE WIRELESS ITALIANE S.P.A.
COLO B COLOPLAST A/S CLASS B
RACE FERRARI NV
AD KONINKLIJKE AHOLD DELHAIZE N.V.
AZN ASTRAZENECA PLC
VOD VODAFONE GROUP PLC
SHL SIEMENS HEALTHINEERS AG
NEOEN NEOEN S.A.
VWS VESTAS WIND SYSTEMS
CTPNV CTP NV
NOVO B NOVO NORDISK A/S
UN0 UNIPER SE
- Louis Boujard
- CFA
- Philippe Ourpatian
Neoen : CA 9M 24 en ligne et guidances 2024 réitérées
>Opinion Apporter à l’offre et OC 39.85 € maintenus - La publication du chiffre d’affaires du 9M 24 est ressortie parfaitement en ligne avec nos anticipations (378.4 M€ vs 375.4 M€ estimés). Le groupe confirme ses guidances 2024 d’EBITDA et ses objectifs 2025. Les processus règlementaires de rachat de 53% du capital par Brookfield se poursuivent conformément au calendrier annoncé le 30 mai dernier, anticipant une offre publique d’achat qui devrait de terminer au T1 25...
- Louis Boujard
- CFA
- Philippe Ourpatian
Neoen : 9M 2024 revenues in line and 2024 guidance reiterated
>Tender to the offer recommendation and target price of € 39.85 maintained - The 9M 2024 revenues release was fully in line with our expectations (€ 378.4m vs € 375.4m estimated). The group confirmed its 2024 EBITDA guidance and its 2025 targets. The regulatory processes for the acquisition of 53% of the capital by Brookfield are continuing according to the schedule announced on 30 May, in anticipation of a public tender offer that should be completed in Q1 2025. We s...
- Carole Braudeau
Credit Morning 07/26/2024
Nexity tackles the crisis in H1 but liquidity is holding upArdagh Group: PW for the glass division, good performance but additional debt for AMPELO/Auchan: H1 results under pressure and increasing leverageCMA CGM reported an EBITDA down year-on-year by only -4% in Q2 24 thanks to the resilience of shipping and growth in its diversification activities. >...
- Jerôme Bodin
PROX PROXIMUS SA DE DROIT PUBLIC
BEKB BEKAERT SA
VCT VICAT-CIMENTS VICAT SA
BFIT BASIC-FIT NV
GTT GAZTRANSPORT & TECHNIGAZ SA
NXI NEXITY SA CLASS A
TFI TELEVISION FRANCAISE 1 SA
BIO BB BIOTECH AG
ALCLA CLASQUIN SA
DEC JCDECAUX SA
ASY ASSYSTEM SA
BLC BASTIDE LE CONFORT MEDICAL SA
ALTR ALTRI SGPS SA
CGM CEGEDIM SA
SRP SRP GROUPE SA
FII LISI SA
LSS LECTRA SA
LNA LNA SANTE SA
GBT GUERBET SA
GOE GROUPE GORGE SA
ATE ALTEN SA
FR VALEO SE
ERA ERAMET SA
COFB COFINIMMO SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
SOC SUBSEA 7 S.A.
ROYAL VOPAK NV
SESL SES-IMAGOTAG SA
SEFER SERGEFERRARI GROUP SA
WAF SILTRONIC AG
WBD WEBUILD S.P.A.
INSD VERIMATRIX SA
SPIE SPIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
HOME NEINOR HOMES SA
SMCP SMCP SA
BFSA BEFESA SA
VOS VOSSLOH AG
2CRSI 2CRSI SA
NEOEN NEOEN S.A.
HAG HENSOLDT AG
VK VALLOUREC SA
ALHRS HYDROGEN REFUELING SOLUTIONS
FORSE FORSEE POWER SA
SPM SAIPEM S.P.A.
FLOW FLOW TRADERS LTD
AF AIR FRANCE - KLM
- Jerôme Bodin
PROX PROXIMUS SA DE DROIT PUBLIC
BEKB BEKAERT SA
VCT VICAT-CIMENTS VICAT SA
BFIT BASIC-FIT NV
GTT GAZTRANSPORT & TECHNIGAZ SA
NXI NEXITY SA CLASS A
TFI TELEVISION FRANCAISE 1 SA
BIO BB BIOTECH AG
ALCLA CLASQUIN SA
DEC JCDECAUX SA
ASY ASSYSTEM SA
BLC BASTIDE LE CONFORT MEDICAL SA
ALTR ALTRI SGPS SA
CGM CEGEDIM SA
SRP SRP GROUPE SA
FII LISI SA
LSS LECTRA SA
LNA LNA SANTE SA
GBT GUERBET SA
GOE GROUPE GORGE SA
ATE ALTEN SA
FR VALEO SE
ERA ERAMET SA
ELIS ELIS SA
COFB COFINIMMO SA
MBWS MARIE BRIZARD WINE & SPIRITS SA
SOC SUBSEA 7 S.A.
ROYAL VOPAK NV
SESL SES-IMAGOTAG SA
SEFER SERGEFERRARI GROUP SA
WAF SILTRONIC AG
WBD WEBUILD S.P.A.
INSD VERIMATRIX SA
SPIE SPIE SA
TEC TECHNIPFMC PLC
XFAB X-FAB SILICON FOUNDRIES SE
HOME NEINOR HOMES SA
SMCP SMCP SA
BFSA BEFESA SA
VOS VOSSLOH AG
2CRSI 2CRSI SA
NEOEN NEOEN S.A.
S30 SOLUTIONS 30 SE
HAG HENSOLDT AG
VK VALLOUREC SA
ALHRS HYDROGEN REFUELING SOLUTIONS
FORSE FORSEE POWER SA
SPM SAIPEM S.P.A.
FLOW FLOW TRADERS LTD
AF AIR FRANCE - KLM
- Carole Braudeau
Morning Crédit 26/07/2024
ELO (Auchan) : Un S1 sous pression, augmentation du levierNexity acte la crise au S1 2024 mais la liquidité tient Ardagh Group : PW pour la division verre, belle performance mais dette additionnelle pour AMP CMA CGM a publié un EBITDA en baisse sur un an de seulement -4% au T2 24 grâce à la bonne résistance du transport maritime et à la croissance de ses activités de diversification.>...
- Louis Boujard
- CFA
- Philippe Ourpatian
Neoen : H1 operating performance in line and guidance confirmed
>Tender to the offer recommendation and target price of € 39.85 maintained - Neoen reported H1 2024 performances in line with our expectations in terms of EBITDA, but a shade below at the net profit level due to higher interest expense and non-recurring transaction costs. The group confirmed its 2024 EBITDA guidance and its 2025 targets. The regulatory processes for the acquisition of 53% of the capital by Brookfield are continuing according to the schedule announced ...
- Louis Boujard
- CFA
- Philippe Ourpatian
Neoen : Une performance opérationnelle au S1en ligne et des guidances ...
>Opinion Apporter à l’offre et OC 39.85 € maintenus - Neoen a publié des performances au S1 24 en ligne avec nos attentes en termes d’EBITDA, mais un peu inférieures au niveau du RNpg en raison de frais financiers plus élevés et de coûts de transactions non récurrents. Le groupe confirme ses guidances 2024 d’EBITDA et ses objectifs 2025. Les processus règlementaires de rachat de 53% du capital par Brookfield se poursuivent conformément au calendrier annoncé le 30 mai ...
- Carole Braudeau
- Carole Braudeau
- Julian Dobrovolschi
- Wim Gille
- Carole Braudeau
- Louis Boujard
- CFA
- Philippe Ourpatian
Neoen : Takeover bid from Brookfield at € 39.85 per share
>Majority takeover bid from Brookfield - Neoen has announced that its main shareholder Impala has entered into exclusive talks with Brookfield, alongside the Fonds Stratégique de Participations managed by ISALT, Cartusia and Xavier Barbaro and other shareholders, in view of acquiring around 53.32% of the existing Neoen shares at a price of € 39.8 per share. The acquisition price represents a premium of 26.9% relative to the last closing price and 40.3% and 43.5% respe...
- Julian Dobrovolschi
- Wim Gille
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