Analyst ratings: changes for Safran, Thales, Capgemini...

Trading above their target: 7 stocks · SBF 120 stocks covered: 120

Stocks trading above their target: Teleperformance (-17.2%) · Eurofins Scientific (-15.8%) · bioMérieux (-7.9%) · Icade (-5.5%) · Rémy Cointreau (-4.2%) · Dassault Systèmes (-2.8%) · Getlink (-1.9%)

Safran leads the list: Berenberg remains at “buy” and cuts its target from 400 to 340 euros. 13 analysts had lowered their targets over the past 10 days, with the latest move on November 2. Median target at 350 euros, target/price gap: +21.8%.

From 14 to 13 euros at Mercialys: Berenberg keeps its “hold” rating and adjusts its target. The median stands at 11.50 euros, for a target/price gap of +18.7%.

SCOR sees its target rise from 44 to 46 euros at Berenberg, still at “buy”. 2 analysts had raised their targets over the past 10 days (latest move on November 2). Median at 37 euros, target/price gap: +7.7%.

Still at “buy”, Intesa Sanpaolo revises its target on Vinci from 159 to 151 euros. The median target stands at 146 euros, a target/price gap of +32.6%.

Kepler Cheuvreux raises the target on Arcadis from 50 to 54 euros, while remaining at “buy”. One analyst had raised his target on October 29. The median stands at 42 euros, below the price: target/price gap of -10.9%.

Two brokers, two cuts at Pluxee: Kepler Cheuvreux, still at “buy”, cuts its target from 18 to 16 euros, while Alphavalue moves from “buy” to “accumulate” and lowers its target from 20.20 to 14.30 euros. 7 analysts had already lowered their targets over the past 10 days (latest move on November 2). Median at 14.65 euros, target/price gap: +23.9%.

At Crédit Agricole S.A., BNP Paribas Wealth Management remains at “hold” and cuts its target from 19 to 18 euros. One analyst had lowered his target on November 2. Median at 20.45 euros, target/price gap: +32.9%.

AXA: BNP Paribas Wealth Management, still at “buy”, moves from 56 to 50 euros. Median target at 50.70 euros, target/price gap: +15.8%.

Capgemini gains 10 euros in target: from 150 to 160 euros at BNP Paribas Wealth Management, which remains at “buy”. 9 analysts had raised their targets and 1 had lowered it over the past 10 days (latest move on November 3). The median stands at 155.90 euros, target/price gap: +23.1%.

BNP Paribas Wealth Management again, with Akzo Nobel: target raised from 68 to 71 euros, “buy” rating maintained. Median at 68 euros, target/price gap: +10.9%.

From 100 to 80 euros at VGP: Deutsche Bank remains at “buy” and lowers its target. Median target at 97 euros, target/price gap: +54%.

The move comes from Deutsche Bank at Icade: the target moves from 21 to 14 euros. One analyst had lowered his target on November 3. The median of 14 euros is below the price, with a target/price gap of -5.5%.

Bank of America, still at “buy”, lowers the target on Forvia from 14 to 13 euros. One analyst had lowered his target on November 3. Median at 11.93 euros, target/price gap: +37.1%.

Three brokers cut their targets on Alstom: BofA Securities (“hold”) moves from 17 to 13 euros, Goldman Sachs (“sell”) from 15.50 to 9 euros, and Barclays’ move brings its target from 10 to 8 euros. 7 analysts had lowered their targets over the past 10 days (latest move on November 3). Median at 13 euros, target/price gap: +16.3%.

Philips: BofA Securities, which remains at “hold”, raises its target from 25 to 26 euros. The median of 25 euros falls below the price, with a target/price gap of -3.6%.

At The Magnum Ice Cream Company, ING Wholesale remains at “buy” and raises its target from 18.50 to 20.50 euros. 2 analysts had raised their targets over the past 10 days (latest move on October 30). Median at 17.50 euros, target/price gap: +1.2%.

Severe cut at Ontex: ING Wholesale keeps its “hold” rating but lowers the target from 2.85 to 1.50 euros. The median stands at 2.65 euros, target/price gap: +71.6%.

From 151 to 194 euros: the increase is clear at Euronext, where ING Wholesale remains at “buy”. Median target at 175 euros, target/price gap: +3.7%.

Abeo: CIC Market Solutions, still at “buy”, moves its target from 15 to 12 euros. Median at 13.50 euros, target/price gap: +78.1%.

AS Independent Research moves CTT - Correios de Portugal from “buy” to “neutral” and lowers the target from 7.15 to 5.85 euros. One analyst had lowered his target on October 27. Median at 8.45 euros, target/price gap: +72.8%.

Rothschild & Co Redburn is at “neutral” on Thales, with a target of 255 euros. One analyst had lowered his target on October 26. Median at 280 euros, target/price gap: +25.3%.

For TF1, Barclays is moving the target from 7 to 6.10 euros. 2 analysts had lowered their targets over the past 10 days (latest move on November 3). Median at 7.50 euros, target/price gap: +20.6%.

From 100 to 111 euros at BNP Paribas: the increase comes from Barclays. 2 analysts had raised and 2 had lowered their targets over the past 10 days (latest move on November 3). Median at 119 euros, target/price gap: +31.9%.

Six brokers move on bioMérieux, all raising their targets: Piper Sandler (“neutral”) from 80 to 100 euros, Barclays (“equal-weight”) from 80 to 90 euros, Morgan Stanley (“underweight”) from 71 to 75 euros, BNP Paribas Exane (“neutral”) from 73 to 82 euros, JP Morgan (“neutral”) from 71.60 to 84 euros. Invest Securities is at “neutral” with a target of 89 euros. 2 analysts had raised their targets over the past 10 days (latest move on November 3). The median of 87 euros falls below the price: target/price gap of -7.9%.

Divergence at Soitec: UBS moves from “sell” to “neutral” and raises its target from 94 to 130 euros, while Morgan Stanley shifts from “overweight” to “market weight” and lowers its target from 200 to 140 euros. Median at 150 euros, target/price gap: +24.6%.

UBS is at “buy” on Ferrari, with a target of 9.90 euros. The median stands at 9.90 euros, target/price gap: +29.4%.

At Groupe SEB, two brokers at “buy”, two directions: Goldman Sachs lowers its target from 72 to 70 euros, Alphavalue raises it from 73.30 to 73.60 euros. 2 analysts had lowered their targets over the past 10 days (latest move on October 26). Median at 73.60 euros, target/price gap: +31.5%.

Two target cuts on Omer-Decugis, two brokers remaining at “buy”: TP Icap Midcap moves from 10.30 to 9.20 euros, Portzamparc from 10.50 to 9.80 euros. Median at 9.50 euros, target/price gap: +37.3%.

TP Icap Midcap keeps its “hold” rating on Oeneo and lowers the target from 9 to 8.70 euros. Median at 10.10 euros, target/price gap: +14.8%.

Almost halved: Hipay Group sees its target move from 6.50 to 3.50 euros at TP Icap Midcap, which remains at “hold”. Single target at 3.50 euros, below the price: target/price gap of -12.9%.

TP Icap Midcap remains at “buy” on Fermentalg and lowers the target from 0.65 to 0.55 euro, while Portzamparc, at “add”, moves from 0.52 to 0.44 euro. Median at 0.55 euro, target/price gap: +44.7%.

Herige: Portzamparc remains at “add” and adjusts its target from 21 to 20 euros. Median at 20 euros, target/price gap: +11.7%.

From 19.10 to 29.90 euros at 2CRSI: Portzamparc is at “buy” with a sharply raised target. Median at 30 euros, target/price gap: +79.6%.

At Clariane, BNP Paribas Exane remains at “outperform” and lowers its target from 4.60 to 4.20 euros. Median at 4.70 euros, target/price gap: +43.8%.

AB InBev: HSBC remains at “buy” and raises its target from 82 to 86 euros. 3 analysts had raised and 1 lowered their targets over the past 10 days (latest move on October 30). Median at 83.75 euros, target/price gap: +14.6%.

Finally, Ageas: Keefe Bruyette & Woods moves from “market perform” to “outperform” and raises its target from 68 to 86 euros. The median of 76.85 euros is barely below the price: target/price gap of -0.7%.