100% French Stocks – October 7, 2025

CAC 40 PREOPEN: 7,976 points (+0.02%)

Key stocks of the day

Valneva (VLA): The group has revised its 2025 revenue targets downward, a signal that may weigh on the opening.

Accor (AC): Early redemption planned of €600M in bonds due 2026.

Veolia (VIE): Nadège Petit appointed as head of North America.

DBV Technologies (DBV): Raised $30M via private placement of ADS at $13 per share.

Casino (CO): New restructuring expected, the second in two years according to the Financial Times.

LDC (LOUP): Confirmation of ambitious Ebitda target of €560M for 2025-2026.

Altarea (ALTA): S&P confirms its BBB- rating and raises the outlook to stable.

Maat Pharma (MAAT): Green light from the oversight committee to continue phase IIb trial (PHOEBUS).

Tonner Drones (ALTD): Successful capital increase of €1.2M, raised via shares at €0.027, with warrants attached.

Europlasma (ALEUP): New share consolidation (2,500 for 1) and ISIN change.

Agripower (ALAGP): Raised €8M as part of its capital increase.

Integragen (ALINT): Beginning of a safeguard procedure.

Emeis (Emeis ex-Orpea): Repurchase of 30,000 own shares.

Corporate earnings expected today

Voyageurs du Monde (VDM) - Q2 2025 results
Vaziva (VZVA) - Q2 2025 results
Bilendi (ALBLD) - Q2 2025 results

Analyst recommendations (France only)

Recommendation changes

Upgrade
LVMH (MC) → Morgan Stanley moves to overweight, target raised from €515 to €635.
Kering (KER) → Morgan Stanley moves to overweight, target raised from €250 to €370.

Neutral
Amundi (AMUN) → JP Morgan keeps neutral, target adjusted from €69 to €68.
Sopra Steria (SOP) → BNP Paribas Exane remains at outperform, target adjusted from €230 to €220.
STMicroelectronics (STM) → Goldman Sachs remains at neutral, target cut from €22.60 to €21.60.
TF1 (TFI) → Bernstein keeps outperform, target lowered from €10.60 to €10.30.
Vinci (DG) → Jefferies keeps buy, target lowered from €145 to €140.

Downgrade
Nexans (NEX) → Jefferies lowers from buy to hold, target cut from €150 to €139.
Hermès (RMS) → Morgan Stanley moves from overweight to equal weight, target cut to €2,420.

Have a great session everyone!
Sylvain Mouilhaud: Stock Coach.