Spie entered the Portzamparc High Five for the month of April. (photo credit: / L. Grassin)
The least we can say is that the analytics firm Portzamparc has been doing well since the beginning of the year, in a complicated market context. The list of five stocks, called the High Five, has posted a performance of 10.8% since January 4, when the CAC Mid & Small index fell 5%.
A little reminder for investors unfamiliar with this selection: it is weighed and revised every month. Stocks are chosen with a dual approach: excellent fundamentals and short-term market potential. The free float must be greater than EUR 10 million.
Of course, this April update sees its share of entry and exit. Exit Hexaom, SQLI and Reworld Media, welcome 2CRSI, Clasquin and Spie. In the month of March, the High Five will have gained 11.5%, against 4.8% for its benchmark.
Overview of details of the companies present in the selection.
2CRSI: buy with a target price of 6.90 euros
In debt 2CRSI? Yes, but according to Maxence Dhoury who is following the file, it is a subject that can be put into perspective. At the same time, the group should announce a “2nd consecutive year of double-digit organic growth” at the end of April. For 2021, the analyst expects gross operating margin (Ebitda) of approximately 5.7%, an increase of 1.2 percentage points, and a current operating margin of 2.1%, an increase of 1.6 percentage points. The valuation has been discounted and “the group should give the market a medium-term trajectory”.
Next event: annual results on April 28
Clasquin: buy with a target price of 80 euros
The global expert in international transport and logistics left the High Five in March to better find it in April with unchanged advice and price target. Yann de Peyrelongue believes there is “another solid quarter to come”. The analyst appreciates price dynamics that remain favorable in the aerospace sector and is betting on a future debt write-off while acquisitions are possible. last attractive point: a discount of 31% compared to its peers.
Next Event: Q1 Sales on April 8
Jacquet Metals: buy with a target price of 33 euros
The leader in specialty steel distribution is down 12% since the beginning of the year. But Nicolas Montel expects strong growth in 2022 (21% estimated against just 7% by consensus). The Portzamparc analyst explains that in the first quarter we witnessed continued strong demand with continued price increases with nickel prices (one of the most important values in stainless steel) at an all-time high of $33,000 per tonne. Valuation remains low and acquisitions are possible.
Next event: 1st quarter sale on May 11
Séché Environnement: buy with a target price of 83.40 euros
Nicolas Royot proposes that we set the course for 2025 with the group, which proposes “ambitious but credible” objectives: a contributing turnover of almost one billion euros and a gross operating margin between 24 and 25% with international as the main leverage. In the shorter term, the analyst expects a still dynamic first quarter and is targeting a 13% increase in activity to 192 million euros.
Next event: Q1 sales on April 26
Spie: buy with a target price of 27 euros
For investors unfamiliar with this discreet group: Spie is the European leader in multi-technical services in the fields of energy and communications. Yann de Peyrelongue expects an increase in organic growth, which should soon be above 3%, from a maximum of 2.5% earlier. The analyst also points to “resources to amplify transformational or recurring acquisitions.” The group booked a discount of 20% compared to its competitors.
Next event: Q1 sales on April 29
LG ([email protected])