
100% French Stocks – January 14, 2026
PREOPEN CAC 40: 8357 pts (+0.21%)
Today's Key Stocks
TotalEnergies (TTE): The group remains cautious about returning to Venezuela, despite huge investment needs estimated at $100 billion.
LVMH (MC), Kering (KER), Chanel: The bankruptcy of US retailer Saks has left unpaid claims for several luxury groups, including Chanel ($136 million), Kering ($60 million), and LVMH ($26 million).
Engie (ENGI): Strategic victory in India with a first hybrid project and a 15-year LNG contract signed for power plants in Thailand.
Ipsen (IPN): The FDA grants "breakthrough therapy" designation to its drug IPN60340 for acute leukemia.
Scor (SCR): Appointment of Philipp Rüede as the group’s new CFO.
Lucibel: Judicial recovery proceedings opened, with a 6-month observation period to restructure its debts.
Inea (INEA): 2025 gross rental income at €81.5M, up 4.5%. Strong contribution from recent off-plan acquisitions.
Results Calendar
- Kalray (ALKAL)
- Catana (CATG)
- Ekinops (EKI)
- LePermisLibre (ALLPL)
Analyst Recommendations (FRANCE only)
**Rating Changes**
Upgrades
STMicroelectronics (STM) → Equita SIM upgrades to Buy, target raised to €30 (from €22).
EssilorLuxottica (EL) → HSBC upgrades to Buy, target raised to €340 (from €300).
Société Générale (GLE) → Jefferies remains at Buy, target raised to €96 (from €70).
Argenx (ARGX) → Redburn confirms Buy, target raised to €866 (from €832).
Neutral
Alstom (ALO) → UBS remains Neutral, target raised to €24 (from €20).
Arkema (AKE) → JP Morgan remains Neutral, target lowered to €50 (from €55).
Capgemini (CAP) → Jefferies remains Hold, target raised to €145 (from €130).
Carrefour (CA) → Citi remains Buy, but target lowered to €18 (from €19).
Nexans (NEX) → Jefferies remains Hold, target reduced to €136 (from €140).
Dassault Systèmes (DSY) → Jefferies remains at Underperform, target reduced to €21 (from €23).
Kering (KER) → Equita SIM remains Hold, target raised to €295 (from €270).
LVMH (MC) → Equita SIM remains Hold, target raised to €610 (from €565).
Gecina (GFC) → Kempen remains Neutral, target lowered to €87 (from €95).
Unibail-Rodamco-Westfield (URW) → Kempen remains Buy, target raised to €105 (from €100).
Downgrades
Arkema (AKE) → UBS remains at Buy, but lowers target to €61 (from €64).
Dassault Systèmes (DSY) → Target lowered, outlook weak despite innovation.
Lucibel → Judicial recovery ongoing. High short-term uncertainty.
Have a good session, everyone!
Sylvain Mouilhaud – Stock Coach