Analysis: Stocks

Bekaert: 1H26: BBRG is in trouble

Earnings/Sales releases A major disappointment came from BBRG. RR's growth in China is dilutive. The company has lowered its guidance. Nevertheless, the valuation remains attractive, and we therefore...

Thomson Reuters Seeks to Monetize the Enterprise AI Wave

As AI reshapes professional services, Thomson Reuters is betting that its products will command a premium.

Premier Investments Limited: Waiting for the Retail Spark

The company is trying to prove that one strong brand can keep the engine running while another finds its feet again, although investors aren't convinced…

Ses: C-Band Opportunity and Sovereign Connectivity

Earnings/Sales releases SES reported H1 2026 results broadly in line with expectations, with revenue of €1.6bn and adjusted EBITDA of €725m following the Intelsat consolidation. Despite Q2...

Ferrari: Personalisation and Mix Drive a Q2 Beat and FY26 Guidance Upgrade

Earnings/Sales Releases Ferrari's Q2 results exceeded expectations due to robust operational performance. Revenue, EBIT, net income, and EPS surpassed consensus estimates, while FCF met expectations....

Reddit Still on the Up

Reddit's splashy IPO has remained a focal point for our analysts.

Casino: H1: Margin-led turnaround continues; restructuring remains the key overhang

Earnings/Sales releases Casino delivered another encouraging quarter on profitability, with H1 adjusted EBITDA rising 13.9% yoy despite subdued sales, reflecting continued benefits from cost savings,...

Agility Robotics: $4bn valuation and a $300m mystery

$300m in orders, a robot not yet commercialized, an unnamed customer. You can already bet on Agility Robotics through its SPAC, but is that really sensible?

IAG's fuel problem

Strong demand and tighter costs kept International Airlines Group profitable in the first half. But war in the Middle East has raised its fuel bill, disrupted its network and brought an abrupt end to...

GBL: Q2 26: Good performance across the board and an aggiornamento

Earnings/Sales releasesGBL reported good performance from its private assets during the second quarter, both operationally and financially. We remain skeptical on the aggiornamento of the CEO on...

Avolta: Middle East and airline strain weigh on what's next

Earnings/Sales releases Results in line despite the Middle East drag, an FX headwind and the JFK and Pudong ramp-up compressing margins. The regional mix diverged: North America expanded margins on...

Teleperformance: More time needed (continued…)

Earnings/Sales releases H1 results slightly exceeded expectations, with improving organic revenue trends, resilient margins and reaffirmed full-year and medium-term guidance. However, current growth...

Haleon: Despite operational improvements, Middle East conflict could weigh on 2026 targets

Earnings/Sales releases Haleon's H1 profitability surpassed expectations, with Q2 top-line growth accelerating. The 2026 Guidance remains unchanged. Despite this, investors expressed disappointment as...

Vusion: H1 sales confirm growth remains a single-customer story as EMEA stalls

EARNINGS/SALES RELEASESVusion’s H1 2026 revenue rose 29% to €839m in adjusted terms, within the €800-900m guided range, but the underlying mix confirms the group’s dependency on a single...

Rentokil Initial: Turnaround Faces Fresh Setbacks!

Earnings/Sales releases Although RTO delivered H1'26 results slightly ahead of market expectations, the results reinforced concerns around the North American recovery. Weaker residential lead flow,...

Adidas: Winning the World Cup at a cost

Earnings/Sales releases Adidas delivered record Q2 sales, driven by exceptional World Cup momentum and strong DTC demand. However, the group invested heavily in the event, diluting operating leverage,...

Wendel: Better execution, still a wait-and-see story

Earnings/Sales releases Wendel delivered decent execution in H1, with WIM confirming its targets, resilient but uneven portfolio performance, and shareholder returns ahead of plan. NAV growth remained...

London Stock Exchange Group: Solid H1, upgraded guidance, sentiment still lagging

Earnings/Sales releases LSEG posted solid H1 26 results, in line with consensus and our estimates. Organic growth decelerated in Q2 due to market normalisation, but subscription businesses held at...

Viridien: Backlog Momentum Builds, But Revenue Recovery Remains a 2027 Story

Earnings/Sales releases The quarter still bears the mark of the Middle East conflict on Sensing & Monitoring, though the underlying trend is improving. Revenue and profitability rise sequentially,...