100% French Stocks – November 26, 2025
Key Actions of the Day
Thales (HO) & Dassault Systèmes (DSY): Signing of a strategic partnership in artificial intelligence applied to defense. Dassault Systèmes also strengthens its ties with the startup Mistral AI.
TotalEnergies (TTE): Shutdown of its floating gas import terminal in Le Havre.
Engie (ENGI): Risk of losing the contract for managing the Paris district heating network to a consortium of Eiffage / RATP / Dalkia (source: Bloomberg).
Sanofi (SAN): Raid of its Paris offices as part of a tax fraud investigation.
Valneva (VLA): Positive phase II results for VLA15, its Lyme disease vaccine candidate, developed with Pfizer.
Compagnie des Alpes (CDA): Extension of the operating contract for the La Plagne ski resort for 25 years.
Transgene (TNG): Launches a €105M fundraising through a public offering and a private placement, with Institut Mérieux entering for €39.4M.
Wallix (ALLIX): Acquisition of the startup Malizen, specialized in AI cybersecurity (from Inria Rennes).
Solutions 30 (S30): Strengthening its partnership with Spirii to accelerate the deployment of charging stations in Europe.
Netgem (ALNTG): Signs a TV partnership with Vialis.
Mr Bricolage (ALMRB): Appointment of Fabio Rinaldi as CEO.
Expected Company Results Today
LDC
Trigano
Aramis Group
Obiz
Société des Bains de Mer de Monaco
Transgene (follow-up on fundraising)
Analyst Recommendations (French companies only)
Recommendation Changes
Upward
Aperam (APAM) → Deutsche Bank confirms Buy, target raised from €37 to €42
ArcelorMittal (MT) → Deutsche Bank confirms Buy, target raised from €38 to €42
Neutral
L’Oréal (OR) → JP Morgan maintains its Neutral recommendation, target raised from €350 to €365
Michelin (ML) → JP Morgan maintains Neutral, target adjusted from €27 to €28
Pernod Ricard (RI) → JP Morgan maintains Neutral, target lowered from €120 to €90
Viridien (VRD) → Oddo BHF shifts from Outperform to Neutral, target raised from €90 to €100
Downward
Soitec (SOI) → Deutsche Bank remains at Buy, but lowers its target from €52 to €40
Have a great session, everyone!
Sylvain Mouilhaud: Equity Coach.