PREOPEN CAC 40: 7770 points (-0.33%)

Caution prevails as the US/EU tariff deadline of August 1 approaches. Tariffs between 15% and 20% are now feared, weighing on the mood this morning.

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Key Actions Today

TotalEnergies (TTE): Awards a major contract to Tenaris for the GranMorgu project in Suriname.

Sanofi (SAN): Acquires Vicebio, strengthening its respiratory vaccines portfolio.

Vinci (DG): Wins €431m in contracts in Australia for infrastructure projects.

Safran (SAF): Finalizes the acquisition of Collins Aerospace flight controls.

Sartorius Stedim Biotech (DIM): EBITDA up +19.3% in H1; strong performance in a tight market.

Vente-Unique (ALVU): Growth of +16.5% over 9 months, driven by booming e-commerce.

Median Technologies (ALMDT): Launches a capital increase from €22m to €25m to support Eyonis development.

Boostheat (ALBOO): Becomes a Bitcoin Treasury Company with the purchase of 2.45 BTC.

Advicenne (ADVIC): Raises €2.6m through a capital increase to fund its kidney treatments.

Acheter-Louer (ALALO): Its subsidiary becomes Sol Treasury Corp, positioning itself in SOLANA digital treasury management 🪙.

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Company Results Expected Today

• Dassault Aviation (AM)
• Sartorius Stedim Biotech (DIM)
• Covivio Hotels (COVH)
• Soitec (SOI)
• Ubisoft Entertainment (UBI)
• Roche Bobois S.A. (RBO)
• Vente-Unique.com (ALVU)
• HighCo (HCO)

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Analyst Recommendations (Only French Companies)

**Recommendation Changes**

Upgrades

Legrand (LR) → Buy maintained, target raised to €130 (vs €123).

Neutral

Eiffage (FGR) → Recommendation maintained, target raised to €120 (vs €115).
Stellantis (STLA) → Hold, target lowered to €8 (vs €10).

Downgrades

Rémy Cointreau (RCO) → Underweight confirmed, target cut to €43 (vs €45).

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