100% French Stocks – February 5, 2026
PREOPEN CAC 40: 8,269 points UNCH
Expected cautious trend ahead of the ECB.
Key stocks of the day
Fill Up Média (ALFUM)
2025 revenue of €16.4M, an increase of 68%.
Growth is driven by local advertisers and partners (+106%), now accounting for 80% of revenue (73% in 2024).
Expansion of the network of partner stations, particularly via E.Leclerc, and a higher fill rate are supporting momentum.
2026 targets confirmed: €26M revenue (+60%) and recurring EBITDA margin > 35%.
BNP Paribas (BNP)
The group raised its profitability targets after a €3bn profit in Q4. A reassuring message on the strength of the model despite enduring macro challenges.
ArcelorMittal (MT)
The steelmaker forecasts increased production and deliveries across all regions in 2026.
Q4 EBITDA at $1.59bn, slightly above consensus ($1.51bn).
2026 capex expected between $4.5 to $5.0bn to support long-term growth.
Global steel demand excluding China is expected to rise by about 2% in 2026.
Stellantis (STLAM)
Production delays on certain Peugeot models related to a battery plant could weigh in the short term, according to Bloomberg.
Eiffage (FGR)
Strategic strengthening in Germany with the acquisition of HTW Engineers, an engineering specialist.
GTT (GTT)
Partnership with HD Hyundai Heavy Industries to design a large ethylene carrier. A positive signal on innovation and commercial visibility.
Rubis (RUI)
Launch of a European bitumen distribution platform, aiming to strengthen logistical efficiency and regional presence.
Figeac Aéro (FGA)
Q3 2025-2026 revenue at €121.1M, with organic growth of 17.8%, a new record quarterly high.
Aerostructures & Aeroengines: +17.8% to €111.2M, driven by Airbus and LEAP.
Defense & Energy: +17.3% to €9.9M.
Over 9 months, revenue of €336.4M (+12.4%), perfectly in line with the annual target of €470–490M.
Order book at €4.6bn, up, with many tenders ongoing.
Confirmed targets: EBITDA €77–83M and FCF €35–40M.
Limited impact expected in 2026-2027 after the SN Auvergne Aéronautique site fire.
Results calendar – Today
Vinci
X-Fab
Equasens
Figeac Aéro
Guerbet
Analyst recommendations (France only)
Recommendation changes
Upgrades
Alten (ATE)
Oddo BHF maintains Outperform, target raised from €107 to €110.
Aubay (AUB)
Oddo BHF maintains Outperform, target raised from €69 to €72.
Neutral
Crédit Agricole (ACA)
BNP Paribas maintains Neutral, target raised from €17 to €19.
UBS confirms Buy, target raised from €20.40 to €21.20.
Renault (RNO)
Goldman Sachs maintains Neutral, target lowered from €36 to €31.
Sodexo (SW)
Jefferies remains at Hold, target reduced from €44 to €41.
Valneva (VLA)
Goldman Sachs maintains Neutral, target lowered from €3.25 to €2.95.
Downgrades
Engie (ENGI)
JP Morgan moves from Overweight to Market Perform, target of €24.50.
Soitec (SOI)
Susquehanna maintains Positive, target reduced from €45 to €40.
Have a great session, everyone!
Sylvain Mouilhaud – Stocks Coach
