Price targets: Changes for Thales, Kering, Legrand...
Downward revisions dominate the session, led by Kering and Saint-Gobain, while Thales, Eramet and Accor see their price targets raised. Real estate companies are particularly affected by target cuts at Kempen.
Above their target: 3 values · SBF 120 covered values: 119
Values above their target: Teleperformance (-4.4%) · Eurofins Scientific (-1.0%) · Worldline (-0.3%)
Largest target / price gaps:
Inventiva — target €8.33 — target / price gap: +174.9%
Genfit — target €19.70 — target / price gap: +110.9%
Nanobiotix — target €52.08 — target / price gap: +108.0%
Atos — target €45.85 — target / price gap: +106.2%
Abivax — target €155.23 — target / price gap: +85.5%
Thales: BofA Securities raises its target from €303 to €312, rating "under review". An analyst had lowered its target on September 29. Median target at €290, Target / price gap: +27.3%.
Eight brokers revise Kering downward today, following a framework discussion with financial analysts. At CIC, the rating remains "buy" and the target moves from €320 to €300. Barclays ("market weight") reduces its target from €310 to €300, Oddo BHF ("neutral") from €255 to €248, and JP Morgan ("underweight") from €235 to €215. Jefferies ("hold") sets it at €220 against €260, Morgan Stanley ("in-line") at €250 against €320, HSBC ("buy") at €300 against €305, and Citi ("neutral") at €243 against €282. An analyst had already lowered its target on September 22. Median at €280 — Target / price gap: +30.9%.
On the Legrand side, Evercore ISI displays a target of €175, rating "outperform". 7 analysts had raised their targets over the past 10 days, with the latest move dating from September 30. Median at €168; Target / price gap: +16.5%.
Four real estate companies were reviewed at Kempen. Gecina moves from "buy" to "neutral", with the target at €66 against €83. Mercialys follows the same path, from "buy" to "neutral", with a target reduced from €14 to €9.50.
For Unibail-Rodamco-Westfield, the rating is "neutral" and the target €95, against €105 previously. Icade, finally, is rated "sell" with a target of €14 against €19.
Medians and gaps: Gecina €90, Target / price gap: +51%; Mercialys €11.24, Target / price gap: +18.9%; Unibail-Rodamco-Westfield €115, Target / price gap: +31.7%; Icade €18.07, Target / price gap: +18.8%. An analyst had lowered its target on Unibail-Rodamco-Westfield and Mercialys on September 25.
Saint-Gobain: CIC Market Solutions remains at "buy" with an unchanged target of €100. JP Morgan, "overweight", lowers its target from €100 to €95, while Jefferies, at "buy", reduces it from €137 to €132.60. An analyst had lowered its target on September 29. Median at €100, representing a Target / price gap of +48.4%.
From €55 to €56: this is the new target from Morgan Stanley on Accor, with an "overweight" rating. An analyst had lowered its target on October 1. Median at €54, Target / price gap: +20.1%.
At Eramet, BofA Securities maintains its "buy" rating and raises the target from €54 to €56. Median at €52.29, Target / price gap: +19.3%.
Oddo BHF is at "outperform" on Sartorius Stedim Biotech, with a target raised from €239 to €281. 2 analysts had raised their targets, with the latest move dating from October 1. Median at €250 — Target / price gap: +18.9%.
Target reduced from €34 to €27 for Kaufman et Broad at BNP Paribas Exane, whose rating is "outperform". An analyst had lowered its target on October 1. Median at €31.86; Target / price gap: +64.1%.
Two stocks are followed by Alphavalue on the downside. Vusion: "Sell" rating, target of €63.80 against €64.60; 3 analysts had lowered their targets over the past 10 days, with the latest move dating from September 23. Median at €187.35, Target / price gap: +43.2%. Carrefour: "Reduce" rating, target of €16.50 against €16.60. Median at €16.50, Target / price gap: +5.3%.
Alphavalue also displays a target of €82.50 on Ageas, "Add" rating. 2 analysts had raised their targets, with the latest move dating from September 29. Median at €75, Target / price gap: +2.7%.
Barclays is at "overweight" on Universal Music Group (against "market weight" previously), with a target reduced from €22.50 to €20. An analyst had lowered its target on September 30. Median at €19 — Target / price gap: +32.9%.
For Exor, Kepler Cheuvreux remains at "buy" but lowers its target from €91 to €89. Median at €93.70, Target / price gap: +37%.
At Stif, Portzamparc is at "hold" with a target of €31, against €78.30 previously. Median at €44.10; Target / price gap: -3.3%.
The target for iCape moves from €10 to €11 at TP Icap Midcap, "buy" rating. Median at €9.90, Target / price gap: +6.5%.
Four other stocks show adjustments or ratings of the day. Rexel: CIC Market Solutions, "buy", target of €44; an analyst had raised its target on September 28, median at €44, Target / price gap: +26.4%. Michelin: CIC Market Solutions, "hold", target of €35, median at €35, Target / price gap: +5.1%. Eurofins Scientific: CIC Market Solutions, "buy", target of €80; an analyst had lowered its target on September 29, median at €73.90, Target / price gap: -1%. Hopscotch Groupe: Invest Securities, "buy", target of €18 against €21 previously.
Finally, KBC Securities revises two small stocks downward. Ontex: target of €3 against €4, median at €2.73, Target / price gap: +50%. Amoeba: "buy" rating, target of €1 against €1.20; an analyst had lowered its target on September 25, median at €1.20, Target / price gap: +291.5%.
