French Analyst Ratings: Goldman Sachs upgrades Orange, BNP raises L'Oréal
RBC and BNP have dropped their respective negative stances on Bureau Veritas and L'Oréal. Analysts continue to revise price targets upward for European semiconductors.
Antin Infrastructure Partners: Morgan Stanley remains underweight with a price target reduced from EUR 10.70 to EUR 10.
Bureau Veritas: RBC Capital upgrades from underperform to sector perform and trims the price target from EUR 26.50 to EUR 26.
Capgemini: AlphaValue/Baader Europe maintains its buy recommendation and raises the price target from EUR 134 to EUR 136.
Getlink: Mediobanca maintains its neutral recommendation and raises the price target from EUR 18.30 to EUR 19.
L'Oréal: BNP Paribas upgrades from underperform to neutral with a price target raised from EUR 350 to EUR 414.
Orange: Goldman Sachs upgrades from neutral to buy with a price target raised from EUR 17.50 to EUR 21.60.
Stellantis: AlphaValue/Baader Europe upgrades from sell to reduce with a price target raised from EUR 5.97 to EUR 6.10.
STMicroelectronics: Baptista Research downgrades from hold to underperform with a price target raised from USD 30.20 to USD 33.10. Oddo BHF maintains its outperform recommendation and raises the price target from EUR 50 to EUR 58.
TotalEnergies: Freedom Broker maintains its sell recommendation and raises the price target from USD 73 to USD 77.
X-Fab Silicon Foundries: Oddo BHF maintains its neutral recommendation and raises the price target from EUR 4.50 to EUR 6.
Orange is the French leader of telecommunications company. Net sales (including intragroup) break down by activity as follows:
- telecommunication services for individuals (78.2%): mobile telephone services (272.8 million clients at the end of 2025; Orange brand in France, Orange Belgium in Belgium, Orange Communications Luxembourg in Luxembourg, MásOrange in Spain, Orange Polska in Poland, etc.), fixed telephone services and Internet access (38.1 million clients). The group also offers services for telecommunication operators. Net sales break down by country between France (54.6%), Europe (21.8%), Africa and Middle East (23.6%);
- telecommunication services to businesses (117.2%): Internet access services, mobile telephone, voice and data transmission services and integration and information management for communication applications;
- telecommunication services to international telecommunication operators (2.9%);
- operation of passive mobile infrastructure (1.7%; Totem): management of a portfolio of approximately 27,000 telecommunications towers in France and Spain.
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Investor
Investor
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Global
Global
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Quality
Quality
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ESG MSCI
ESG MSCI
The MSCI ESG score assesses a company’s environmental, social, and governance practices relative to its industry peers. Companies are rated from CCC (laggard) to AAA (leader). This rating helps investors incorporate sustainability risks and opportunities into their investment decisions.
