100% French Stocks – Friday, October 24, 2025
100% French Stocks – Friday, October 24, 2025
CAC 40 PREOPEN: 8,262 points (+0.35%)
Key Stocks of the Day
Safran (SAF): The group raised its annual targets for 2025 thanks to strong demand for LEAP engines and 15% organic growth in Q3. Current operating result expected between €5.1 and €5.2 billion.
Sanofi (SAN): Strong Q3 results released at 7:30 am. The group confirms its outlook, driven by vaccine performance.
TotalEnergies (TTE): A French court ruled the company misled consumers with its carbon neutrality communications.
Seb (SK): Launch of a cost savings plan after disappointing Q3 results.
Unibail-Rodamco-Westfield (URW): Appointment of a new CEO and upgrade of annual guidance.
JCDecaux (DEC): Signed a major contract in Norway, continued external growth.
FDE (FDE): Strong annual results with an EBITDA margin of 57%, despite lower electricity prices.
Alten (ATE): Q3 results down (-1.7%), but guidance maintained due to defense and energy growth.
Company Results Expected Today
Sanofi (SAN) – Q3 2025 – Results at 7:30 am
Safran (SAF) – Q3 2025 – Activity update
Exel Industries (EXE) – Q4 2025 – Pre-market release
IKONISYS S.A. (ALIKO) – Q2 2025 – Expected release (estimate)
SwissNet AG – Q4 2024 – Results release
Analyst Recommendations (French companies only)
**Recommendation Changes**
Upgrades
Exail Technologies (EXA) → Bernstein maintains outperform, target raised to €156 (vs €150).
SMCP (SMCP) → Oddo BHF maintains outperform, target raised to €8 (vs €6.50).
Thales (HO) → Jefferies maintains hold, target raised to €250 (vs €240).
Solocal Group (LOCAL) → Oddo BHF maintains neutral, target raised to €3.50 (vs €3.20).
Ipsen (IPN) → Barclays maintains equal weight, target raised to €125 (vs €120).
Kering (KER) → HSBC moves from buy to hold, target raised to €370 (vs €335).
Neutral
BNP Paribas (BNP) → Morgan Stanley maintains equal weight, target reduced to €83 (vs €92).
Dassault Systèmes (DSY) → Several analysts (BNP, DB, JPM, etc.) maintain neutral, targets reduced to €30–32.
Deezer (DEEZR) → DB maintains hold, target cut to €1.30.
STMicroelectronics (STM) → Targets cut (Oddo: €28, Jefferies: €26, TD Cowen: €21.50), recommendations unchanged.
Downgrades
Sodexo (SW) → Berenberg lowers rating to hold, target at €56 (vs buy).
Renault (RNO) → Rothschild & Co Redburn maintains neutral, target cut to €38.
Dassault Systèmes (DSY) → Wolfe Research reaffirms underperform, target cut to €23 (vs €27).
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Have a great session, everyone!
Sylvain Mouilhaud: Equity Coach.