100% French Stocks – November 21, 2025

Veolia (VIE): Acquires US hazardous waste specialist Clean Earth for USD 3 billion. A major strategic move.

ArcelorMittal (MT): Calls for an urgent European tariff quota, a reassuring message to clients.

Stellantis (STLA): Considering a factory project in Saudi Arabia to strengthen its presence in the Middle East.

Thales (HO): Collaboration with the UAE Cybersecurity Council on three projects. International digital security.

Eiffage (FGR): Wins a second contract for Madrid’s urban circuit infrastructure.

Imerys (NK): Issues €600 million in bonds maturing in 2032 with a 4% coupon.

Tarkett (TKTT): Appeal against the takeover bid rejected. The offer resumes from 11/24 to 12/5.

Boiron (BOI): Thierry Boiron steps down as Deputy CEO.

Hydrogen Refueling Solutions (ALHRS): Launches fundraising up to €10.4 million via a capital increase at €1.90 per share.

Genfit (GNFT): Effective withdrawal of ADS from Nasdaq.

Abionyx Pharma (ABNX): Signs strategic partnership with SEBIA in the field of sepsis.

Mauna Kea (MKEA): Gen 3 Cellvizio platform approved in China.

Néovacs (ALNEV): Capital reduction due to losses, nominal value reduced to €0.005.

No major earnings releases reported at this stage.

Recommendation Changes

Do & Co (DOC) → Coverage initiated by Oddo BHF at Outperform, target €240.

Elior (ELIOR) → Goldman Sachs stays Neutral but raises price target from €3 to €3.10.

Emeis (ORPEA) → Bernstein maintains Market Perform, target raised from €14 to €15.50.

ING Groep (INGA) → Citi maintains Buy, target raised from €20.30 to €25.80.

Amundi (AMUN) → AlphaValue/Baader Europe remains at Accumulate, target adjusted from €90.80 to €90.60.

Elior (ELIOR) → AlphaValue/Baader Europe remains at Accumulate, target lowered from €3.58 to €3.51.

Soitec (SOI) → HSBC remains at Hold, target reduced from €44 to €25.

Vivendi (VIV) → AlphaValue/Baader Europe moves from Buy to Reduce, target reduced from €4.44 to €2.75.

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Have a great trading day everyone!
Sylvain Mouilhaud: Equity coach.