100% French Stocks – Thursday, September 25, 2025
PREOPEN CAC 40: 7,818 points (-0.22%)
Today's Key Stocks
Sanofi (SAN): Ordered to pay more than €150M to Health Insurance for anti-competitive practices related to Plavix.
TotalEnergies (TTE): Confirms return to shareholders ≥ 40% of cash flow, and launches a listing on the New York Stock Exchange.
L’Oréal (OR): Strategic reorganization in the USA with two new appointments heading US operations.
Dassault Aviation (AM): Ongoing tensions with Airbus on the SCAF program threaten the continuation of the Franco-German-Spanish project.
BNP Paribas (BNP): Controversy: the bank drops its commitment not to finance so-called "controversial" weapons.
GTT (GTT): New order for two LNG carriers via Samsung Heavy Industries.
Sopra Steria (SOP): In talks to acquire Neocase (HR).
Trigano (TRI): Annual 2024-2025 revenue down -6.8%.
Bénéteau (BEN): Seeking a turnaround with expected ROC close to breakeven.
Exail Technologies (EXA): The DriX drone achieves a technological feat with 2,000 km of autonomous navigation for REPMUS exercises.
Crossject (ALCJ): Managed cash at €6.3M, deployment of ZENEO Nest module for future production volumes.
Arverne Groupe (ARVEN): Half-year revenue +104%, aiming for €25-30M in 2025 driven by the Safran/Dalkia geothermal project.
Semco Technologies (SMCO): H1 revenue of €16.6M, gross margin at 66.8%, 2025 goal confirmed at €33M.
Chargeurs (CRI): Cambridge Satchel (subsidiary) awarded for its "Miffy" collaboration, praised for cultural and artisanal design.
Expected Company Results Today
- ALTRAN Technologies (ALTEN) – Q2 results expected at 5:40 pm
- Inventiva (IVA)
- Marie Brizard Wine & Spirits (MBWS)
- Hexaom (ALHEX)
- Cegedim (CGM)
- Biocorp (ALCOR)
- OSE Immunotherapeutics (OSE) (estimate)
- Adocia (ADOC) (estimate)
- Jacques Bogart (JBOG) (estimate)
- Affluent Medical (AFME) (estimate)
- Transition Evergreen (EGR) (estimate)
- Groupe Berkem (ALKEM) (estimate)
Analyst Recommendations
Recommendation changes affecting French companies only
Upgrades
Abivax (ABVX) → Recommendation maintained at Outperform, target raised from 95 → 114 USD.
Eiffage (FGR) → BNP Paribas Exane remains at Outperform, target raised from 148 → 154 EUR.
SAP (SAP) (note: although a German company, recommended by Oddo BHF France) → moved to Outperform, target slightly raised to 284 EUR.
Neutral
TotalEnergies (TTE) → Neutral recommendation maintained, target adjusted from 55 → 53 EUR.
Dassault Systèmes (DSY) → Outperform recommendation maintained, target reduced from 37 → 35.5 EUR.
Downgrades
Amadeus IT Group (AMS) → Oddo BHF cuts rating from Outperform to Neutral, target lowered to 76 EUR.
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Have a great session, everyone!
Sylvain Mouilhaud – Stock Coach
