- HelloFresh (HFG.DE) and Siemens (SIE.DE) results in focus for investors
- Jefferies revises its recommendations in the chemical sector
Overall market situation:
Thursday's session on European stock markets brings mixed investor sentiment. The German DAX is currently gaining nearly 0.33%, but other markets such as the French CAC40 are currently losing nearly 0.47%. It is worth mentioning, however, that the French market, as it is relatively strongly linked to companies in the luxury goods and fashion sectors, is under pressure today due to Burberry's (BRBY.UK) warning about its annual results. Investors' attention during today's session will focus on readings of US unemployment benefits data and speeches by central bankers.
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At the moment, companies listed in Europe during Thursday's trading session are trading in slightly weaker sentiment. Source: xStation 5
Futures based on the German DE30 are trading nearly 0.38% higher on an intraday basis and are currently between the levels of the limits set by the 16,000-point zone and the 15,700-point barrier, where the DE30 has traded multiple zones of local lows or peaks over the course of the year. Source: xStation 5
News:
HelloFresh (HFG.DE)'s stock price is losing more than 21% today as the company lowered its full-year sales and EBITDA forecasts in the face of customer acquisition problems in the US and insufficiently fast production of ready-to-eat meals.
The warning can be considered quite a surprise, as just three weeks ago the company reaffirmed previously issued forecasts. The lowered forecasts mean that Q4 revenues will be 8% lower, Bernstein analysts added.
Key comments from the company. Source: Bloomberg Finance L.P.
The company's shares are trading at levels not seen since March 2023. Source: xStation
Siemens (SIE.DE) shares are gaining nearly 4.7% in today's session following the release of better-than-expected financial results. The company forecasts a marked recovery in China's economy in the second half of next year. Analysts report that the main factors that turned out to be positive were growth in the key Digital Industries division, strong free cash flow and share buybacks.
Reported results and key comments from the company. Source: Bloomberg Finance L.P.
The company's shares started today's session with a clear upward gap. Source: xStation
MorphoSys (MOR.DE) reported net sales of Monjuvi US products in the third quarter, which exceeded analysts' average estimates.
However, the company's shares are losing nearly 4.5% on a daily basis. Source: Bloomberg Finance L.P.
Jefferies analysts see significant pressure on European chemical companies to drive consolidation in the sector, while highlighting major challenges related to costs and demand pressures. The institution has revised its recommendations on companies in the sector. They are presented below.
Analyst recommendations:
* K+S (SDF.DE): Jefferies downgraded its recommendation on the stock to a "hold" rating. Target price set at €15.
* Wacker Chemie (WCH.DE): Jefferies initiated analyst coverage of the company with a "buy" rating. Target price set at 146 euros.
* BASF (BAS.DE): Jefferies downgraded its recommendation on the stock to an "underperform" rating. Target price set at 39 euros.
* Zalando (ZAL.DE): Jefferies raised its recommendation on the stock to a "buy" rating. Target price set at 30 euros.
