Analysis: Stocks

Outokumpu: Thank God the competitive environment will change

Earnings/Sales releases The group reported disappointing results for FY25, with a weaker-than-expected Q4. Outokumpu remains the weakest performer in our stainless steel sector. Despite anticipated...

Hermes International: Endurance over excitement

Earnings/Sales releases Hermès delivered another outstanding year, with both top-line and profitability exceeding consensus and our expectations. Growth was broad-based across regions and métiers,...

Safran: Safran raises the bar

Earnings/Sales releases Safran's release goes beyond a clean annual delivery. The key message is structural: management has materially upgraded its medium-term ambitions, signalling stronger...

NatWest: A good set of results confirms Evelyn-related risk premium

Earnings/Sales Releases The group posted a strong set of quarterly results. The updated 2026 Guidance is in line with consensus expectations. On the other hand, the 2028 Guidance is above...

Deutsche Boerse: Q4: Strong Jaws, Strategic Path De-risked

Earnings/Sales releases Deutsche Boerse delivered solid Q4 results, with 7% Growth in net revenue driven by Software and Securities Services. Key highlights include 6pp positive jaws, reaffirmed 2026...

Eutelsat Communications: Q2 26: Eutelsat showing signs of stability

Significant newsEutelsat delivered H1 FY2025–26 results in line with expectations, confirming full-year objectives. The key positive development was the successful completion of a €1.5bn capital...

Three European stocks analysts love

Amongst stocks that are best rated by analysts, which offer the best balance between positive and negative recommendations? A closer look at European mid-caps covered by over five analysts, for which...

Metso Corporation: FY25 OK. A (too?) modest guidance

Earnings/sales releases The group reported satisfactory results for FY25. However, the Outlook appears conservative considering the current Mining environment, bolstered by high metal prices. Given...

Ubisoft Entertainment: Solid fiscal Q3, but the implied Q4 guidance could be too optimistic

Earnings/Sales releasesOn 12 February, Ubisoft released its Q3 2025/26 figures, which came in slightly above the revised guidance for Net Bookings of EUR 330m. However, given the fact that only two...

Norsk Hydro: Q4 beat and major dividend increase, but markets need more reassurance

Earnings/Sales Releases 2025 ended on a strong note, with Norsk’s Q4 results coming ahead of street expectations and the firm announcing a sizeable 2025 dividend increase. While the firm’s shares...

Capgemini: 2025 success secured: Full speed ahead toward 2026 execution

Earnings/Sales releases Capgemini reassures with Growth coming in above expectations. The strong rebound observed in Q4, driven by the consolidation of WNS and the return to positive organic Growth,...

Airbnb posts underwhelming results

For the short-term rental specialist, FY 2025 delivered revenue growth in line with the previous year, confirming a marked slowdown in its expansion.

Michelin: Challenging FY25 and cautious FY26 outlook offset by strong shareholder returns

Earnings/Sales Releases Michelin reported mixed FY25 results, surpassing revised guidance despite headwind from volume declines, particularly in SR2/3, as well as FX and tariff headwinds. Following...

Mesoblast Leads Global Regenerative Therapy Expansion

Mesoblast has matured into a regenerative-medicine leader, leveraging FDA-approved Ryoncil® and dual MSC platforms to meet aging-population demand, while solidifying commercial infrastructure,...

Xtep International Holdings Hits the High Road

China's intensifying fitness craze is reshaping the landscape, propelling the company into a lucrative but complex era of transition. By aggressively overhauling retail spaces and doubling down on a...

Nahdi Medical Dispenses Dose of Growth

Nahdi Medical Company's share story feels conflicted: momentum in retail and healthcare expansion contrasts with a recent pullback in its stock price. Still, resilience shines through steady...

Leonteq AG: FY-25: Foundations Secured Despite FY-25 Loss

Earnings/Sales releases Leonteq reported a CHF34m Net Loss due to low Volatility and margin pressure. Despite the headline miss, operational “repairs” are complete: costs beat guidance, regulatory...

TF1: TF1 outperforms a dropping market in Q4 25

Earnings/Sales releases TF1 just announced FY25 results slightly below expectations with a difficult Q4 in broadcasting and no improvement is expected for 2026. Overall, these results should lead to...

Carl Zeiss Meditec: Weak start to FY2025-26, tough times ahead

Earnings/Sales releases CZM reported weak Q1 results, with challenges in both ophthalmology and microsurgery. Profitability declined significantly due to FX headwinds, an unfavourable product mix, and...