ELIOR: Huge transformation using new technologies for higher growth
Business Services
GlaxoSmithKline: Mepolizumab recommended for approval in Europe
NEUTRAL, Fair Value 1520p vs. 1470p (+21%)
Actelion: Update after contact with management
BUY-Top Picks, Fair Value CHF154 vs. CHF155 (+21%)
Brewers The Chinese promise (full report released today)
In this note we are delving into the exciting prospects that the Chinese beer market has to offer. We are also updating our earnings forecasts for the brewers following the weakness in EM currencies
Licensed eyewear offers very attractive diversification opportunities for brands
Optical & Eyewear Sector
Diageo: Western Europe recovering slowly. Adjusting for FX.
NEUTRAL, Fair Value 1870p vs. 1920p (+9%)
Orpea: H1 results in line and new expansion in Germany
BUY, Fair Value EUR72 (+5%)
Dialog Semiconductor: A whole new profile: more diversified but also more risky
NEUTRAL vs. BUY, Fair Value EUR39 vs. EUR57 (+5%)
Ingenico Group: End of the saga Ingenico/Worldpay: the veil is now officially and definitively lifted!
BUY-Top Picks, Fair Value EUR150 (+42%)
Bone Therapeutics: H1 newsflow delivered on time is a good sign when we look towards H2
BUY, Fair Value EUR26 (+37%)