CAC 40 PREOPEN: 7,961 points (-0.36%)
Key stocks of the day
Engie (ENGI): Wins a major battery energy storage project in India.
Sanofi (SAN): Dupixent approved in the EU for treating chronic spontaneous urticaria.
Nexans (NEX): Vincent Piquet appointed CFO, recruited from Ampère (Renault).
Verallia (VRLA): CFO change announced.
Mercialys (MERY): Sarah Leroy becomes Secretary General.
Samse (SAMS): Leadership triumvirate following the departure of historic leaders.
Carbios (ALCRB): Signs two multi-year commercial agreements in biorecycled PET.
Electricité et Eaux de Madagascar (EEM): Judicial victory in Cambodia.
SpineGuard (ALSGD): Obtains a US patent for a universal robotic adapter.
Arverne Group: Launch of the first geothermal drilling in the France Lithium project.
Société de Tayninh: Strategic pivot to crypto finance – a new "Bitcoin treasury company" in Paris.
Company results expected today
- Nanobiotix (NANO): Cash of €20.4M as of 09/30. Expected total payment of $71M via partnership with HCRx, supporting the outlook through 2028. Significant clinical progress on NBTXR3 with J&J.
- Nacon (NACON): H1 2025-2026 revenue at €78.1M, gross margin up to 69.7%. Net profit down to €3.7M, but annual targets confirmed.
- Bigben (BIG): H1 EBITDA up 17.5%, €43M refinancing secured for bond repayment in 2026.
- Moulinvest, Auplata, Abionyx: Results expected during the day.
Analyst recommendations (French companies only)
**Recommendation changes **
Upgrades
OVH Groupe (OVH) → Morgan Stanley upgrades from Underweight to Market Weight, target: €9.05.
Veolia Environnement (VIE) → AlphaValue/Baader Europe confirms Accumulate, target increased: €41.50 (vs €41.30).
Vivendi (VIV) → JP Morgan confirms Overweight, target increased: €3 (vs €2.90).
Innate Pharma (IPH) → Goldman Sachs maintains Hold, target increased: €2.39 (vs €2.23).
Nanobiotix (NANO) → Leerink Partners remains at Outperform, target increased: USD 26 (vs USD 24).
Neutral
Soitec (SOI) → Susquehanna remains positive, but lowers target from €52 to €45.
STMicroelectronics (STM) → Mizuho Securities initiates coverage at Neutral, target: USD 22.
Technip Energies (TE) → Jefferies remains at Buy, but reduces target from €50 to €48.
Valneva (VLA) → Goldman Sachs remains Neutral, target lowered: €3.25 (vs €3.50).
Downgrades
Valeo (FR) → Bernstein downgrades to Market Perform, target maintained at €11.
M6 (MMT) → Barclays maintains Underweight, target lowered: €11.75 (vs €12).
Have a great session, everyone!
Sylvain Mouilhaud: Stock Coach.
