
100% French Stocks – Wednesday, September 10, 2025
PREOPEN CAC 40: 7,773 points (+0.23%)
European markets are expected to open slightly higher, supported by anticipation of a Fed rate cut. In France, investors are closely watching the appointment of Sébastien Lecornu as Prime Minister.
Key Stocks of the Day
**Antin Infrastructure Partners (ANTIN)**: Solid half-year results. AUM up +4.2% to €33bn, revenue up +8%, interim dividend announced (€0.36/share). Refined outlook for 2025.
**Chargeurs (CRI)**: H1 results driven by Museum Studio and Novacel. ROPA down -11.2% but pre-tax profit up +34.5%. Net asset value revised to €24.2/share.
**Fleury Michon (ALFLE)**: H1 revenue up +3.4%, driven by plant-based products. Net profit down sharply to €0.3M. Completion of the meal tray business sale.
**Haulotte Group (PIG)**: H1 revenue drops sharply by -27% to €264M. Net loss (-€21M). Pricing pressures and ongoing caution from rental companies.
**Metavisio (ALTHO)**: Strategic acquisition project in premium digital accessories. Objective: double target turnover by 2028.
**Entech (ALENT)**: H1 revenue up +9% to €27.5M. Backlog > €100M, €80M target for 2025 confirmed.
**Groupe Partouche (PARP)**: Q3 GGR up +5.3% to €189M, strong momentum across all segments, both in France and internationally.
**Alstom (ALO)**: New €1bn contract with NJ Transit for 200 cars and 12 locomotives.
**Sanofi (SAN)**: Tzield approved in China for Type 1 diabetes treatment.
**GTT (GTT)**: New order from Samsung Heavy Industries for a floating LNG unit.
Corporate Results Expected Today
- Antin Infrastructure Partners (ANTIN)
- Neurones (NRO)
- Jacquet Metals (JCQ)
- Sword Group (SWP)
- Les Hôtels Baverez S.A.
- Sergeferrari Group (SEFER)
- HighCo (HCO) → Results expected at 6:00pm
Analyst Recommendations
Positive
EssilorLuxottica (EL) → Barclays initiates at Overweight, target €305.
Gecina (GFC) → Citi upgrades from Sell to Buy, target raised from €88.5 to €122.
Exosens (EXO) → JP Morgan remains Overweight, target raised from €33.5 to €45.
Covivio (COV) → JP Morgan remains Overweight, target raised from €60 to €68.
Neutral
Eurofins Scientific (ERF) → Morgan Stanley remains at Equal Weight, target raised to €61.
Spie (SPIE) → Morgan Stanley maintains Equal Weight, target lowered from €52.5 to €49.5.
Voltalia (VLTSA) → BNP Paribas Exane remains Neutral, target lowered to €6.70.
Negative
Pernod Ricard (RI) → Morgan Stanley downgrades to Underweight, target lowered from €90 to €85.
Randstad (France indirectly exposed) → Morgan Stanley downgrades to Underweight, target lowered to €36.
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Have a great trading session everyone!
Sylvain Mouilhaud: Stock coach.