Analyst ratings: changes for Alstom, Legrand, Danone...
Analysts have sharply lowered their price targets for Alstom, while Capgemini, Danone and Air Liquide have seen several targets raised. Technology and real estate stocks show contrasting movements.
Above their target price: 7 stocks · SBF 120 stocks covered: 120
Stocks above their target price: Teleperformance (-16.3%) · Eurofins Scientific (-14.9%) · bioMérieux (-12.3%) · Rémy Cointreau (-6.0%) · Icade (-5.6%) · Dassault Systèmes (-2.0%) · Getlink (-1.5%)
Alstom: seven brokers have revised their forecasts since the publication of the company's profit warning. Citi and JP Morgan have moved to “neutral”, with targets cut from 28 to 14 euros and from 28 to 15.60 euros, respectively. CIC Market Solutions remains at “hold” and lowers its target from 20 to 11.50 euros, as does Deutsche Bank (from 19 to 13 euros). Barclays is at “underweight” with a target of 8 euros (versus 10 euros), BNP Paribas Exane at “neutral” with 14 euros (versus 18.50 euros), and Oddo BHF at “neutral” with 12 euros (versus 24 euros). Median target price: 14 euros, gap between target price and share price: +28.9%.
From 139 to 160 euros at Capgemini: BofA Securities remains at “buy” and raises its target. Citi is also at “buy”, with its target raised from 140 to 150 euros. Seven analysts had raised their targets and one had lowered its target over the past 10 days, including one move on November 2. Median at 151.80 euros, gap between target price and share price: +22.6%.
Still at “sell”, BofA Securities raises its target on Legrand from 140 to 143 euros. The median target price stands at 170 euros for 13 analysts: gap between target price and share price of +27.8%.
BofA Securities revises three other stocks without changing its ratings. Amundi: still at “buy”, target reduced from 110 to 107 euros; three analysts had raised their targets over the past 10 days (latest move on October 30), median at 97.50 euros, gap between target price and share price: +4.8%. Teleperformance: “hold” maintained, target raised from 71 to 76 euros, while CIC Market Solutions confirms “hold” and 60 euros; median at 66.50 euros, gap between target price and share price: -16.3%. Rémy Cointreau: “sell” maintained, target raised from 41 to 46 euros; six analysts had raised their targets over the past 10 days (latest move on October 29), median at 48.75 euros, gap between target price and share price: -6%.
At BE Semiconductor Industries, the cut is significant: ING Wholesale, still at “buy”, lowers its target from 310 to 240 euros. Two analysts had already lowered their targets, the latest on October 27. Median at 232.50 euros, gap between target price and share price: +50.1%.
KBC Securities has a target of 8.50 euros (versus 9.70 euros) on Barco, with a “hold” rating. Median at 8.48 euros, gap between target price and share price: +31.4%.
UBS remains at “sell” on SCOR and raises its target from 32.50 to 33.20 euros. One analyst had raised its target on October 31. Median at 37 euros, gap between target price and share price: +7.2%.
Status quo for three stocks covered by CIC Market Solutions. Saint-Gobain: still at “buy”, target unchanged at 100 euros; five analysts had lowered their targets over the past 10 days (latest move on October 29), median at 95 euros, gap between target price and share price: +36.1%. Stellantis: “hold” and 4.50 euros unchanged; one analyst had raised and two had lowered their targets, median at 4.50 euros, gap between target price and share price: +7.8%. Soitec: “buy” and 175 euros unchanged, median at 150 euros, gap between target price and share price: +20.6%.
Deutsche Bank is making multiple adjustments. CTP: still at “buy”, target reduced from 16 to 15 euros; one analyst had lowered its target on October 29, median at 20.25 euros, gap between target price and share price: +59.2%. Métropole Télévision: “hold” confirmed, target from 13 to 11 euros, median at 11.25 euros, gap between target price and share price: +10.5%. Icade: Deutsche Bank is at “hold” with a target of 14 euros; one analyst had lowered its target on October 26, median at 14 euros, gap between target price and share price: -5.6%. Gecina: “buy” rating and target of 75 euros, versus 90 euros previously, median at 78.50 euros, gap between target price and share price: +21.5%.
Euroland Corporate remains at “buy” on two small-cap stocks. Delfingen: target unchanged at 40 euros, median at 42 euros, gap between target price and share price: +30.4%. Valbiotis: target maintained at 1.57 euros, median at 1.40 euros, gap between target price and share price: +99.7%. Invest Securities, for its part, keeps its “buy” rating and its target of 0.04 euros on Biophytis (gap between target price and share price: +52.1%).
Same movement at Bank Degroof Petercam and Kempen on DSM-Firmenich: both brokers move from “buy” to “hold” and raise their target from 95 to 113 euros. Median at 102 euros, gap between target price and share price: -3.7%.
Autonomous is at “neutral” on Worldline with a target of 11 euros, versus 11.30 euros. Median at 11.35 euros, gap between target price and share price: +13.5%.
At Verallia, Bernstein is at “market perform” with a target of 18 euros (19 euros previously). Median at 21 euros, gap between target price and share price: +19.2%.
From 122 to 115 euros: Berenberg adjusts its target on Unibail-Rodamco-Westfield, with a “buy” rating. One analyst had lowered its target on October 27. Median at 115 euros, gap between target price and share price: +24.6%.
Berenberg is also at “buy” on Sopra Steria, with its target raised from 217 to 228 euros. Two analysts had raised and one had lowered their targets over the past 10 days. Median at 215 euros, gap between target price and share price: +12.2%. On Imerys, the broker is at “hold” with a target of 25 euros (versus 23.50 euros); three analysts had raised their targets over the past 10 days, median at 25.50 euros, gap between target price and share price: +0.1%.
Barclays is at “underweight” on TF1 with a target of 6.10 euros, versus 7 euros. One analyst had lowered its target on October 30. Median at 7.50 euros, gap between target price and share price: +23.6%.
Two brokers, two opposing targets on BNP Paribas: Barclays, at “equal weight”, raises its target from 100 to 111 euros, while Morgan Stanley, at “overweight”, lowers it from 129 to 128 euros. One analyst had raised and another had lowered its target over the past 10 days. Median at 119 euros, gap between target price and share price: +36.2%.
HSBC reviews two stocks. STMicroelectronics: “buy” rating, target reduced from 81 to 70 euros; two analysts had lowered their targets over the past 10 days, median at 69 euros, gap between target price and share price: +62.3%. Danone: HSBC is at “hold” with a target of 71 euros, versus 69 euros; two analysts had raised their targets over the past 10 days, median at 79.50 euros, gap between target price and share price: +19.2%.
From 41.50 to 35 euros at Randstad: BNP Paribas Exane moves from “neutral” to “underperform”. One analyst had raised its target on October 29. Median at 41.50 euros, gap between target price and share price: +1.9%.
Citi is at “buy” on Air Liquide and raises its target from 198 to 209 euros. Two analysts had raised their targets over the past 10 days. Median at 198 euros, gap between target price and share price: +8.7%.
Oddo BHF is at “outperform” on bioMérieux with a target raised from 84 to 100 euros. One analyst had raised its target on October 28. Median at 82.50 euros, gap between target price and share price: -12.3%.
Finally, KBW is at “overweight” on Adyen with a target reduced from 1,230 to 1,050 euros. Four analysts had lowered their targets over the past 10 days (latest move on October 30). Median at 1,200 euros, gap between target price and share price: +44.5%.
