100% French Stocks – September 9, 2025

PREOPEN CAC 40: 7,724 points (-0.21%)

Key stocks of the day

Interparfums (ITP): Half-year results up 5% despite a tense international context. Annual target revised downward.

Viridien (VIRI): Launch of a seismic survey in the North Sea. Strengthens its strategic position in Norway.

X-FAB (XFAB): Investor Day in Brussels – 2025 targets reiterated with focused growth in automotive, industrial, and medical sectors.

Abivax (ABVX): Half-year loss deepened to -€93.7M. R&D up sharply, driven by clinical trials.

One Experience: Acquisition of 2 Bitcoins, launch of its "Bitcoin Treasury Company" strategy.

Thales (HO): Launches a satellite telecommunications service for CNES.

Michelin (ML): Launch of its 2025 global employee shareholding plan.

Renault (RNO): Accelerates its transformation to respond to Chinese competition.

Saint-Gobain (SGO): Reorganising its chemical activities in Germany.

TotalEnergies (TTE): Anticipates a 15% drop in petrochemical trade due to tariffs.

Euronext (ENX): Higher trading volumes in August.

Tikehau (TKO): Statement following a controversial article about its continuation fund.

OSE Immunotherapeutics (OSE): Ongoing legal clarification.

Corporate results expected today

Somfy SA (SOF) – Q2 2025 Results (estimate)
Rubis (RUI) – Q2 2025 Results
Interparfums (ITP) – Q2 2025 Results
Groupe Partouche (PARP) – Q3 2025 Activity Update
LightOn – Q2 2025 Activity Update
Fleury Michon (ALFLE) – Q2 2025 Results
Haulotte Group (PIG) – Q2 2025 Results

Analyst recommendations (French companies only)

Recommendation changes

Upgrades
Abivax (ABVX) → Buy maintained by Stifel, target raised to €100 (+47%).

Neutral
BNP Paribas (BNP) → Neutral maintained by JP Morgan, target lowered to €90.
Capgemini (CAP) → "Market weight" maintained, target reduced to €140.
Crédit Agricole (ACA) → Underweight maintained, target lowered to €17.
Gecina (GFC) → Neutral confirmed, target reduced to €88.20.
Icade (ICAD) → Sell confirmed, target reduced to €15.70.
Klépierre (LI) → Neutral confirmed, target reduced to €31.30.
Société Générale (GLE) → Overweight maintained, target raised to €67.
Unibail-Rodamco-Westfield (URW) → Buy confirmed, target lowered to €126.

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