100% French Stocks – Thursday, July 25, 2025

CAC 40 PREOPEN: 7,806 points (-0.19%)

Key actions of the day

LVMH (MC): Half-year results sharply down by -22%. Declining performance in Asia, pressure on Fashion & Leather Goods divisions.

Rémy Cointreau (RCO): Q1 2026 above expectations, organic growth expected in the second half. Stock supported.

STMicroelectronics (STM): Acquisition of NXP's MEMS sensors for up to $950M. Major strategic impact. Guidance lowered by analysts.

Michelin (ML): Revenue down, impacted by lower volumes, but margin resilience. Market in a wait-and-see mode.

Sanofi (SAN): Drug Sarclisa approved by the EU for the treatment of multiple myeloma.

Carrefour (CA): Sale of Italian activities. Focus on strategic markets. Price target raised by Barclays.

Crédit Agricole (ACA): In advanced negotiations to acquire Groupe Milleis via its subsidiary LCL.

Valeo (FR): Downward revision of its adjusted revenue target due to currency effects.

Vinci (DG): International expansion with the acquisition of Energobit in Romania.

Eiffage (FGR): New contract awarded worth €120M for infrastructure at the Marseille Fos port.

Nexity (NXI): Annual targets confirmed despite a still tense real estate context.

Ipsen (IPN): The EU approves Cabometyx for neuroendocrine tumor treatment.

LISI (FII): Published half-year revenue of €978.8M.

Bénéteau (BEN): Revenue down, but order intake up, bringing more visibility.

Alten (ATE): Expects an organic decline of -5.2% to -5.5% in 2025. Market in retreat.

Mercialys (MERY): Annual net profit target revised upward thanks to solid commercial momentum.

Voltalia (VLTSA): Two new solar contracts won in Ireland.

Pierre & Vacances (VAC): Quarterly revenue up by +10%. Tourism remains strong.

Gecina (GFC): Raises €500M via a 10-year green bond, to finance sustainable projects.

Mauna Kea Technologies (MKEA): Signs a strategic partnership to enter the Australian market.

AdVini (ADVI): Half-year revenue down, but favorable mix and strong momentum in North America (+25%).

Aramis Group (ARAMIS): Revises its 2025 targets downward, aims for an adjusted EBITDA of €65M. Growth more moderate than expected.

Today’s expected company results

Vallourec (VK) – 07:30
Rémy Cointreau (RCO) – 07:30
Maisons du Monde (MDM) – 17:45
Bureau Veritas (BVI)
Sopra Steria Group (SOP)
Burelle SA
Compagnie de l’Odet
MRM

Analyst recommendations (French companies only)

Upward

Carrefour (CA) → Maintain Overweight, price target raised €15.50 → €15.75
Eurofins Scientific (ERF) → Maintain Buy, target raised €89 → €95

Neutral

BNP Paribas (BNP) → Maintain Hold, target raised €92 → €94
STMicroelectronics (STM) → Maintain Hold, target reduced €30 → €26.40
Dassault Systèmes (DSY) → Maintain Hold, target reduced €35 → €33
LVMH (MC) → Maintain Hold, target reduced €540 → €525
TotalEnergies (TTE) → Maintain Hold, target reduced €56 → €55

Downward

Dassault Systèmes (DSY) → Jefferies: Underperform, target reduced from €27 → €26
TotalEnergies (TTE) → Bernstein: Outperform maintained, but target reduced from €67 → €65

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