100% French Stocks – February 24, 2026
PREOPEN CAC 40: 8,503 points (+0.05%)
Key Actions of the Day
EDENRED (EDEN): The employee benefits specialist confirmed it expects an organic decline in its EBITDA in 2026 due to changes in the regulatory framework in Brazil and Italy. Despite better-than-expected results for 2025, this announcement weighs on medium-term prospects.
FORVIA (FRVIA): The auto parts supplier targets an operating margin of 6% to 6.5% this year and aims for 7% by 2028. Key point for shareholders: the group will not pay a dividend for the past financial year.
ENGIE (ENGI): Commissioning of Assú Sol in Brazil, the group's largest photovoltaic complex worldwide (753 MW). A €542m investment that will generate enough electricity for 850,000 people.
NEXANS (NEX): A placement of 2.2 million shares was made at €120.01 each (vs. closing at €122.90 yesterday). Additionally, Barclays adjusts its target price to €132.
FDJ (FDJ): La Française des Jeux proposes to increase its annual dividend following its latest results. Goldman Sachs still recommends selling, with its target raised to €24.20.
SOLVAY (SOLB): The chemical company expects its underlying EBITDA to fall in 2026. At the same time, the group will cut its soda ash production capacity at its Torrelavega site in Spain starting Q3 2026.
TECHNIP ENERGIES (TE): Major success in Mozambique. The group won a significant contract for the Coral Norte floating liquefied natural gas (FLNG) project, in partnership with JGC and Samsung Heavy Industries.
UBISOFT (UBI): Martin Schelling has been appointed head of the Assassin's Creed brand. The stock remains under pressure after UBS revised its target down to €4.50.
PARROT (PARRO): The group announces an order worth nearly €15 million from Finnish defense forces for ANAFI UKR micro-drone systems for intelligence (ISR).
IPSOS (IPS): Change in governance with the appointment of Nathan Brumby as head of platforms and technologies. COO Michel Guidi leaves the company.
NICOX (ALCOX): Positive Phase 3 data released for NCX 470 at the American Glaucoma Society congress, showing a reduction in intraocular pressure among the best in its class.
Earnings Calendar
Key earnings releases to watch today:
- Major Indices: Edenred, Forvia, Solvay, Verallia, Bic, Alten.
- Real Estate: Covivio, Altarea.
- Small & Midcaps: Lacroix, Freelance.com, Adocia, Amoeba, Implanet.
Analyst Recommendations
Exclusive focus on French companies.
Recommendation Changes
Upgrades
ADP (ADP) → Barclays maintains "Overweight" and raises the price target from €124 to €138.
AIR FRANCE-KLM (AF) → Barclays maintains "Underweight" and raises the price target from €9.90 to €11.
MERCIALYS (MERY) → Jefferies reiterates "Buy" with a target raised from €13 to €13.50.
Neutral
DANONE (BN) → HSBC remains at "Hold" with a target raised from €73 to €75.
ELIS (ELIS) → RBC Capital initiates coverage at "Market Perform" (target €27.50).
UBISOFT (UBI) → UBS stays at "Neutral" but cuts the target from €7 to €4.50.
Downgrades
TF1 (TFI) → JP Morgan stays at "Overweight" but cuts the target from €12.40 to €9.90.
NEXANS (NEX) → Barclays remains at "Market Weight" with a reduced target of €132.
FDJ (FDJ) → Goldman Sachs maintains its Sell recommendation (target €24.20).
Have a great trading session, everyone! Sylvain Mouilhaud: Stock coach.
