Analyst Views: Changes for LVMH, Vinci, Danone...
Target price revisions are concentrated in the luxury sector, where LVMH and Kering see their targets lowered by several brokers following results published this morning by Bernard Arnault's group. Amundi, SCOR, Kinepolis Group, ArcelorMittal and TechnipEnergies, conversely, record increases.
Above their target: 6 securities · SBF 120 securities covered: 120
Securities above their target: Eurofins Scientific (-11.7%) · Rémy Cointreau (-10.1%) · Teleperformance (-7.1%) · bioMérieux (-5.9%) · Worldline (-3.1%) · Sodexo (-2.2%)
LVMH: ten brokers revise their target, all in the same direction. Barclays moves from 590 to 470 euros, BofA Securities from 640 to 520 euros, CIC Market Solutions from 530 to 490 euros, Goldman Sachs from 500 to 495 euros, Oddo BHF from 524 to 466 euros, TD Cowen from 510 to 425 euros, Grupo Santander from 500 to 495 euros, Morgan Stanley from 450 to 420 euros, JP Morgan from 525 to 500 euros and Jefferies from 440 to 415 euros. BofA Securities and CIC Market Solutions remain at buy. On views, Barclays is "overweight", Goldman Sachs at "buy", Oddo BHF and Grupo Santander at "outperform", Morgan Stanley at "market weight", JP Morgan at "neutral" and Jefferies at "hold".
The median of targets stands at 495 euros for a price of 376.65 euros: Gap targets/price: +31.4%. 2 analysts had lowered their targets over the past 10 days, with the last move on October 12.
From 280 to 235 euros at Kering: the move comes from TD Cowen. The consensus stands at 265 euros, representing a Gap targets/price of +27.7%. 2 analysts had lowered their targets recently, with the last move dating from October 12.
Amundi sees its target raised from 84 to 90 euros at Barclays. The median of targets comes out at 98.60 euros (13 analysts), for a Gap targets/price of +10.7%. 3 analysts had raised their targets and 2 had lowered them over the past 10 days, with the last move dating back to October 9.
Two increases at SCOR: Barclays, at "market weight", raises its target from 31.40 to 32.30 euros, and Mediobanca, moving from "neutral" to "outperform", raises it from 37 to 38 euros. Median consensus at 37 euros, Gap targets/price: +11.4%.
On Crédit Agricole, the three moves diverge. Barclays, at "market weight", raises its target from 19.40 to 20.90 euros; RBC Capital, at "sector performance", brings it back from 20 to 19 euros; KBW, at "underperform", reduces it from 20.50 to 18 euros. The median of 12 analysts reaches 21.45 euros, Gap targets/price: +34.6%.
At Vinci, BofA Securities remains at "sell" and brings its target from 126 to 116 euros. The median of targets is set at 147.25 euros, representing a Gap targets/price of +37.3%.
Jump from 37 to 60 euros for ING Wholesale's target on Kinepolis Group, which remains at buy. Median of targets at 58.50 euros (5 analysts), Gap targets/price: +12.9%.
TotalEnergies: CIC Market Solutions remains at buy with an unchanged target of 106.70 euros. The median of consensus stands at 87 euros, Gap targets/price: +9.9%. 3 analysts had raised their targets, with the last move dating from October 8.
Still at buy, CIC Market Solutions maintains its target of 210 euros on Air Liquide. The median stands at 197 euros, Gap targets/price: +15.5%. 2 analysts had raised their targets, with the last move dating from October 12.
From 57.78 to 75.86 euros: this is CIC Market Solutions' revision on ArcelorMittal, which remains at "hold". Median of targets at 71 euros, Gap targets/price: +24.5%. 2 analysts had raised their targets and 3 had lowered them over the past 10 days, with the last move dating from October 9.
Danone: two brokers adjust their targets downward. CIC Market Solutions, which remains at buy, moves from 79 to 77 euros; Morgan Stanley, at "overweight", from 83 to 80 euros. The median of targets comes out at 83 euros, Gap targets/price: +39.4%. 2 analysts had lowered their targets, with the last move dating from October 5.
Three brokers publish on Valbiotis, all at "buy". Euroland Corporate displays a target of 1.57 euros, Portzamparc from 1.90 to 1.40 euros and TP Icap Midcap from 1.80 to 1.30 euros. Median at 1.48 euros, Gap targets/price: +174.1%.
Euroland Corporate, at "buy", displays a target of 0.50 euros on Mauna Kea Technologies, unchanged. The median of targets stands at 0.20 euros (3 analysts), Gap targets/price: +77.3%. 1 analyst had lowered its target on October 12.
Voltalia: Portzamparc, now at "strong buy" after "buy", brings its target from 7.50 to 7.20 euros. Median consensus at 7 euros, Gap targets/price: +58%.
From 71 to 66 euros at Lisi: TP Icap Midcap, at "buy", adjusts its target. The median of targets reaches 75 euros, Gap targets/price: +26.5%.
Goldman Sachs moves TechnipEnergies from "neutral" to "buy" and raises the target from 32 to 35 euros. Median at 38.50 euros (12 analysts), Gap targets/price: +25.2%. 1 analyst had lowered its target on October 12.
Abivax: Goldman Sachs, at "buy", brings its target from 132 to 131 euros. The median of targets is set at 141 euros, Gap targets/price: +81.6%.
Oddo BHF is at "outperform" on STMicroelectronics, with a target brought from 72 to 70 euros. The median stands at 70 euros, Gap targets/price: +56.1%.
From 400 to 320 euros: Oddo BHF, at "outperform", reviews its target on BE Semiconductor Industries. Median at 245 euros, Gap targets/price: +40.9%. 3 analysts had lowered their targets, with the last move dating from October 8.
RBC Capital displays a target of 45 euros on SPIE, with a view "performance in line with the sector". Median of targets at 57 euros, Gap targets/price: +34.9%. 1 analyst had raised its target on October 8.
At Société Générale, KBW is at "market perform", target 75 euros. The median of 18 analysts comes out at 86.50 euros, Gap targets/price: +32.8%. 3 analysts had lowered their targets, with the last move dating from October 9.
Schneider Electric: Oxcap Analytics displays a target of 335.50 euros, view "overweight". Median at 340 euros, Gap targets/price: +27%. 4 analysts had raised and 2 lowered their targets over the past 10 days, with the last move dating from October 8.
Morgan Stanley, at "underweight", raises from 183 to 184 euros its target on GTT. The median of targets reaches 238 euros, Gap targets/price: +9.5%.
Finally, Air France-KLM: an analyst moves to "hold", target 10.50 euros. Median at 12 euros (11 analysts), Gap targets/price: +12.2%. 4 analysts had lowered their targets, with the last move dating from October 9.
