Additional European Equity News

Goldman Sachs on European Stocks: raises 12-month Stoxx 600 target to 510 (prev. 500; last close 485). upgrade Travel & Leisure to Overweight from Neutral; upgrade Consumer Products & Services to Overweight from Neutral; downgrade Energy to Neutral from Overweight; downgrade Utilities to Underweight from Neutral.

Bouygues (EN FP) – Holds a 43% stake in TF1 (TF1 FP) - Q4 (EUR): Sales 749mln (prev. 767mln), Operating Income 82mln (prev. 78mln), Net 53mln (prev. 25mln), dividend of 0.55/shr. (Newswires)

Centrica (CNA LN) - FY23 (GBP): Adj. EPS 33.4p (prev. 34.9p Y/Y), Adj. Op 2.75 (prev. -3.31bln Y/Y), Revenue 26.5bln (prev. 23.7bln Y/Y). (Newswires)  

French Defence -  France to meet NATO 2% spending target in 2024, defence minister said. (AFP)

John Wood (WG LN) - Appoints David Lockwood as Non-exec director, effective March 12th. (Newswires) 

Jet2 (JET2 LN) - Trading update: Raises FY24 pretax outlook to GBP 510-525mln (prev. guidance 480-520mln). (Newswires) 

Kerry Group (KYGA ID) – FY (EUR): Revenue 8.02bln (exp. 8.25bln), adj. EPS 4.30 (exp. 4.32), Dividend 1.15/shr (exp. 1.14/shr). Plans for further share buybacks in 2024. (Newswires)

Legrand (LR FP) – FY (EUR): Sales 8.4bln (exp. 8.55bln), adj. Operating Profit 1.77bln, Net 1.15bln (exp. 1.2bln), Dividend 2.09/shr (exp. 2.08/shr). (Newswires)

Lloyds (LLOY LN) - Lord Lupton has informed the Board that he intends to step down as non-exec director. (Newswires) 

Pernod Ricard (RI FP) – CEO says no impact so far on consumer behaviour from China’s EU brandy dumping probe. (Newswires)

Prysmian (PRY IM) - Co. has signed contracts worth over EUR 5bln with Amprion. (Newswires) 

Relx (REL LN) - FY23 (GBP): EPS 114p (prev. 102.2p Y/Y), Op. 3.03bln (prev. 2.68bln Y/Y), Revenue 9.16bln (prev. 8.55bln Y/Y). (Newswires) 

TietoEvry (TIETO FH) – Q4 (EUR): Adj. EBITA 108.4mln (prev. 118.0mln Y/Y), Revenue 757mln (prev. 768mln Y/Y). Guides initial FY24 adj. EBITA margin 12-13 (prev. 12.6% Y/Y). (Newswires)

UniCredit (UCG IM) - Co. has reportedly begun talks with Prelios to form a JV for managing non-performing loans, via Il Sole 24. (Newswires)

Capgemini (CAP FP) downgraded to Neutral from Buy at ESN 

DHL Group (DHL LN) upgraded to Buy at Goldman Sachs

Intermediate Capital Group (ICP LN) initiated with Overweight at Morgan Stanley

Randstad (RAND NA) downgraded to Neutral from Outperform at BNP Paribas 

15 Feb 2024 - 07:51- EquitiesResearch Sheet- Source: Newsquawk