Price Targets: Changes for L'Oréal, Hermès, LVMH...
Target revisions are multiplying on luxury and electricity stocks, with several downgrades at Hermès, Schneider Electric and EssilorLuxottica. Conversely, UBS, BofA Securities and Alphavalue are raising their targets on several stocks.
Values above their target:
Values above their target: Eurofins Scientific (-4.8%) · Worldline (-2.7%) · Teleperformance (-2.3%)
L'Oréal: UBS remains on buy and raises its target from 430 to 440 euros. The median of targets stands at 440 euros, representing a Target/Price Gap of +18.1%.
From 88 to 89 euros at TotalEnergies: UBS raises its target while remaining on buy. 4 analysts had raised their targets and 1 had lowered it over the past 10 days, with the latest movement dating from October 5. Median at 88 euros, Target/Price Gap: +16%.
UBS is on "sell" for Saint-Gobain, with its target reduced from 70 to 65 euros. 4 analysts had lowered their targets over the past 10 days (latest movement on October 5). The median of targets stands at 100 euros — Target/Price Gap: +48.9%.
Two brokers share the Vallourec file: BofA Securities remains on buy and raises its target from 24 to 25 euros, while TP Icap Midcap is on "buy" with a target of 24 euros, down from 25 euros previously. One analyst had lowered his target on October 1. Median at 25 euros, Target/Price Gap: +35.4%.
At SPIE, BofA Securities, "under review", adjusts its target from 63 to 64 euros. The median of targets stands at 58.55 euros — Target/Price Gap: +36.9%.
The decline is significant for Hermès International: CIC Market Solutions, still on buy, reduces its target from 2,000 to 1,700 euros, and HSBC, on "hold", sets it at 1,460 euros against 1,550 euros previously. 6 analysts had already lowered their targets over the past 10 days (latest movement on October 5). Median at 1,600 euros, Target/Price Gap: +24%.
Air Liquide, Bureau Veritas, Renault and GTT: CIC Market Solutions remains on buy on all four stocks and leaves its targets unchanged.
- Air Liquide: target maintained at 200 euros. 1 analyst had lowered his target on October 5. Median at 197 euros, Target/Price Gap: +16.7%.
- Bureau Veritas: target maintained at 31 euros. 2 analysts had raised and 1 lowered their targets over the past 10 days (latest movement on October 5). Median at 32.20 euros, Target/Price Gap: +21.7%.
- Renault: target maintained at 40 euros. Median at 33.40 euros, Target/Price Gap: +33.8%.
- GTT: target maintained at 238 euros, also the consensus median. Target/Price Gap: +11.2%.
Barclays is active on two semiconductor stocks.
BE Semiconductor Industries: Barclays is on "market weight", with a target reduced from 250 to 240 euros. Median of targets at 250 euros — Target/Price Gap: +28.9%.
ASML: Barclays' view is "overweight", with a target raised from 2,400 to 2,450 euros. Median at 2,200 euros, Target/Price Gap: +32%.
At Interparfums, TP Icap Midcap displays a "buy" view for a target of 38 euros. 1 analyst had raised his target on October 2. Median at 34.32 euros, Target/Price Gap: +13.9%.
Double blow for Schneider Electric: JP Morgan moves from "overweight" to "neutral" and reduces its target from 345 to 310 euros, while Vertical Research Partners, on "hold", cuts it from 300 to 265 euros. Yet 4 analysts had raised their targets over the past 10 days (latest movement on October 5). Median at 340 euros, Target/Price Gap: +27.3%.
JP Morgan downgrades Ferrovial from "overweight" to "neutral" and lowers its target from 65 to 50 euros.
From 41 to 42 euros at Rexel: Morgan Stanley is on "overweight". 1 analyst had raised his target on October 2. The median of targets stands at 42 euros — Target/Price Gap: +18%.
Planisware: BNP Paribas Exane is on "underperform", with a target raised from 14 to 15 euros. 1 analyst had raised his target on October 5. Median at 26 euros, Target/Price Gap: +2.6%.
Stifel is on "buy" for Medincell, with a target raised from 33 to 36.50 euros. Median at 38.14 euros — Target/Price Gap: +45.6%.
For Macompta, Invest Securities is on "buy" and raises its target from 8 to 10 euros. The median of targets stands at 9.38 euros, representing a Target/Price Gap of +80.4%.
LVMH: HSBC, on "hold", sets its target at 440 euros, against 490 euros previously. 1 analyst had lowered his target on October 5. Median at 524 euros, Target/Price Gap: +36.4%.
Alphavalue moves from "reduce" to "accumulate" on Legrand and raises its target from 147 to 173 euros. 6 analysts had raised their targets over the past 10 days (latest movement on October 4). Median at 170 euros, Target/Price Gap: +16%.
At iCape, Euroland Corporate displays a "buy" view and a target of 16.70 euros. 1 analyst had raised his target on October 2. Median at 12.36 euros, Target/Price Gap: +27.2%.
Oddo BHF reviews two files.
- EssilorLuxottica: "outperform" view, target reduced from 220 to 186 euros. 6 analysts had lowered their targets over the past 10 days (latest movement on October 5). Median at 200 euros, Target/Price Gap: +37.4%.
- Bonduelle: "neutral" view, target lowered from 8.80 to 8.10 euros. Median at 7.79 euros — Target/Price Gap: +1.2%.
Two brokers with opposing positions on ArcelorMittal: Kepler Cheuvreux is on "buy" with a target reduced from 73 to 72 euros, while Goldman Sachs, on "neutral", raises its target from 48 to 54 euros. 1 analyst had raised and 1 lowered his target over the past 10 days (latest movement on October 5). Median at 70 euros, Target/Price Gap: +19.7%.
