CAC 40 PREOPEN: 8265 points (+0.35%)

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Key Stocks of the Day

• Euronext (ENX): Trading volumes up in December 2025.
• Worldline (WLN): 2025 targets confirmed at the AGM.
• GTT (GTT): New order for two LNG carriers from Samsung Heavy Industries.
• Scor (SCR): SGRI relocated to France.
• Air France-KLM (AF): €650M bond issue (EMTN program).
• Edenred (EDEN): Successful placement of €500M in bonds.
• Verallia (VRLA): End of the antitrust investigation in Italy.
• La Française de l'Énergie (FDE): Secured access to 18 mined gas sites.
• Valbiotis (ALVAL): Exclusive agreement in the Middle East.
• Cellectis (ALCLS): 2026 targets and clinical progress (CAR-T).
• GenSight Biologics (SIGHT): Secured cash until the end of 2026, ongoing trials.

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Results Calendar

No major publications today.

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Analyst Recommendations: French Stocks

Recommendation Changes

Upgrades

• BNP Paribas (BNP) → JP Morgan upgrades to Overweight, target €102.
• Airbus (AIR) → UBS reiterates Buy, target €240.
• Thales (HO) → UBS reiterates Buy, target €380.
• Amundi (AMUN) → Jefferies remains at Buy, target €80.
• Rexel (RXL) → UBS remains Neutral, target raised to €35.

Neutral

• Dassault Aviation (AM) → UBS remains Neutral, target €330.
• Sodexo (SW) → Recommendations unchanged, targets €45-51.
• EssilorLuxottica (EL) → Oddo & UBS confirm, targets €306-347.
• Rémy Cointreau (RCO) → Goldman Sachs stays Neutral, target €50.
• Ipsen (IPN) → Jefferies maintains, target €117.

Downgrades

• OVH Groupe (OVH) → Goldman Sachs stays Sell, target raised to €5.
• Stellantis (STLA) → Barclays remains at Market Weight, target €10.

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Have a great session everyone!
Sylvain Mouilhaud – Stock Coach