Among utilities, RWE is the winner of the radical changes in the energy markets implied by the war in Ukraine. While we do not estimate…
Valuation wise is worried and has been exploring various avenues to protect what can be when one mad man will not entertain a discussion. That…
What has been learnt from COVID-19 waves 1 to 5 has been replicated last Friday with Telcos hardly avoiding a negative performance while transport /…
Bolloré could be looking to exit its long-standing logistics activities in Africa according to French media. Although the company has not commented on the matter…
In February 2019, we teased about Veolia’s need for fresh impetus. They delivered. The deal with Suez, initiated in August 2020 and finalised in April 2021, is a game-changer…
We are initiating coverage of Bankinter which is the Spain’s sixth-largest bank. It was founded in 1965 as an industrial bank through a joint venture…
We initiate coverage of Hellofresh, the global leader in the growing meal-kit market, with a Buy recommendation and 24% upside. Not everyone was negatively affected…
Crude oil prices are at a two-year high thanks to an improving demand outlook and a disciplined OPEC+. Furthermore, Iran’s long-awaited return is being delayed,…
The unprecedented pandemic definitely turned majors into stronger firms and mid-weights into weaker ones. L’Oréal jointly with French luxury stocks (encapsulated under the Khôl* moniker by AlphaValue) have become…
We have fully revamped our investment case on Electricité de France (EDF) in the light of recent improvements on the regulatory front. After a long…