ALD is a service leasing and vehicle fleet management group with a fleet of more than 1,375,000 vehicles in 41 countries. Under a full-service lease, the client pays the leasing company a regular monthly lease payment to cover financing, depreciation of the vehicle and the cost of various services provided in relation to the use of the vehicle (such as maintenance, replacement car, tyre management, fuel cards and insurance). Fleet management services include the provision of outsourcing contracts to clients under which the vehicle is not owned by Co., but is managed by Co. and for which the client pays fees for the various fleet management services provided.
  • TickerA2DSXM
  • ISINFR0013258662
  • ExchangeEuronext Paris
  • SectorSupport Services
  • CountryFrance

Analysts

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/03/2019

The de-rating visible since end-September 2018 largely integrates the areas of uncertainty hanging over the stock. It is now time to focus on Thales’ strengths and the levers that the integration of Gemalto will offer. Buy, target price of € 130 vs € 126. - ...

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/07/2019

Le de-rating visible depuis fin septembre 2018 intègre désormais largement les incertitudes qui entourent le titre. Il est temps de se tourner vers les atouts de Thales et les leviers que va offrir l’intégration de Gemalto. Achat – OC de 130 € vs. 126 €. - - ...

Jean Sassus ...
  • Steven Gould

ODDO : Nouvelle étude d’impact “Bâle 4” de l’EBA : pas de changement majeur

>Etude d’impact « Bâle 4 » mise à jour - L’EBA publie une nouvelle étude sur l’impact de « Bâle 4 » (version finale de Bâle 3). Comme pour la précédente, (mars 2019), les hypothèses sont conservatrices :Application des règles 2027 aux bilans arrêtés à fin juin 2018 en excluant toute adaptation sur la période.Exclusion des aménagements propres à la transposition en droit européen.Risques de marché calculés avec la version de décembre 2016 au lieu de la d...

Jean Sassus ...
  • Steven Gould

ODDO : New “Basel IV” impact study from the EBA: no major changes

>Basel IV impact study updated - The EBA has published a new study on the impact of “Basel IV” (final version of Basel III). As with the preceding study (March 2019), the assumptions are conservative:Application of 2027 rules to the balance sheets at end-June 2018 and excluding any adaptation over the period.Exclusion of adjustments specific to the transposition into European law.Market risks calculated with the December 2016 version instead of the late...

Jean Sassus ...
  • Steven Gould

ODDO : More than ever it is capital that dictates the sector

In this study, we present the state of play of the European banking sector with regards to the core issue of solvency (regulatory impact, etc.). Our analysis reveals to what extent this: 1/ is a significantly differentiating factor and 2/ should determine strategic direction within the sector. Lastly, it establishes a hierarchy that contains no major surprises and which underpins our preference for CASA (Buy, target price € 15.5). - >Generating surplus capital and solvency...

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 07/03/2019

The de-rating visible since end-September 2018 largely integrates the areas of uncertainty hanging over the stock. It is now time to focus on Thales’ strengths and the levers that the integration of Gemalto will offer. Buy, target price of € 130 vs € 126. - ...

Christophe Chaput ...
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Steven Gould
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/07/2019

Le de-rating visible depuis fin septembre 2018 intègre désormais largement les incertitudes qui entourent le titre. Il est temps de se tourner vers les atouts de Thales et les leviers que va offrir l’intégration de Gemalto. Achat – OC de 130 € vs. 126 €. - - ...

Jean Sassus ...
  • Steven Gould

ODDO : Nouvelle étude d’impact “Bâle 4” de l’EBA : pas de changement majeur

>Etude d’impact « Bâle 4 » mise à jour - L’EBA publie une nouvelle étude sur l’impact de « Bâle 4 » (version finale de Bâle 3). Comme pour la précédente, (mars 2019), les hypothèses sont conservatrices :Application des règles 2027 aux bilans arrêtés à fin juin 2018 en excluant toute adaptation sur la période.Exclusion des aménagements propres à la transposition en droit européen.Risques de marché calculés avec la version de décembre 2016 au lieu de la d...

Jean Sassus ...
  • Steven Gould

ODDO : New “Basel IV” impact study from the EBA: no major changes

>Basel IV impact study updated - The EBA has published a new study on the impact of “Basel IV” (final version of Basel III). As with the preceding study (March 2019), the assumptions are conservative:Application of 2027 rules to the balance sheets at end-June 2018 and excluding any adaptation over the period.Exclusion of adjustments specific to the transposition into European law.Market risks calculated with the December 2016 version instead of the late...

Jean Sassus ...
  • Steven Gould

ODDO : More than ever it is capital that dictates the sector

In this study, we present the state of play of the European banking sector with regards to the core issue of solvency (regulatory impact, etc.). Our analysis reveals to what extent this: 1/ is a significantly differentiating factor and 2/ should determine strategic direction within the sector. Lastly, it establishes a hierarchy that contains no major surprises and which underpins our preference for CASA (Buy, target price € 15.5). - >Generating surplus capital and solvency...

1 director bought

A director at ALD Sa bought 2,000 shares at 11.688EUR and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Antoine Boivin-Champeaux ...
  • Charles Lepetitpas
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Louis Boujard
  • Nicolas David
  • Philippe Ourpatian
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 21/05/2019

...

Charles Lepetitpas ...
  • Geoffroy Michalet
  • Jean Sassus
  • Jean-François Granjon
  • Louis Boujard
  • Nicolas David
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 05/21/2019

...

Baptiste Lebacq ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean Sassus
  • Jeremy Garnier
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 05/03/2019

...

Baptiste Lebacq ...
  • Christophe Chaput
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean Sassus
  • Jeremy Garnier
  • Stephane Houri

ODDO BHF Small & MIDCAP MORNING NEWS - 03/05/2019

...

Alfred Glaser ...
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Geoffroy Michalet
  • Jean Sassus
  • Jerôme Bodin
  • Manuel Martin
  • Michael Foundoukidis
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Effler
  • Valentin Pernet
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/08/2019

An objective examination of the growth drivers of indices (macroeconomic growth expectations, EPS momentum, monetary conditions and the cost of capital) leads us to believe that the momentum observed since the start of the year cannot be maintained in the short term. In short, the market (Stoxx 600) is ahead of its transition times and should enter a fluctuation band that we estimate at between 355 and 384 points. Consequently, the most rational attitude consists in a total or partial...

ALD SA with less fundamental stars is reduced to Neutral

ALD SA (FR), a company active in the Investment Services industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 3, 2019, the closing price was EUR 12.56 and its expected value was estimated at EUR 12.98.

Richard Sbaschnig

Any Speed Bumps in the Fast Lane?

Jehanne Leroy

ALD - Assemblée générale des actionnaires du 22 mai 2019

Rémunérations :La transparence de la société permet de clairement comprendre les montants attribués au titre de 2018 et leur alignement avec les performances effectivement réalisées. De plus, la structure mise en place (similaire aux structures dans les sociétés du secteur bancaire, comme Société Générale, actionnaire de contrôle de la société) respecte nos principes. Enfin, les montants en jeu sont modérés. Nous soutenons donc les résolutions 10 à 12. Concernant la politique de rémunération 2019, le seul changement significatif est l'augmentation de la rémunération du Directeur général. Si l...

Matthieu DRIOL

Analyse court terme - ALD SA : La tendance est baissière.

La tendance est baissière. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 12,43 €. La tendance baissière serait remise en cause au-dessus de 16,64 €.

Matthieu DRIOL

Short term view - ALD SA : The trend is bearish.

The trend is bearish. Prices are falling again, but the movement has become hesitant. The next support is at €12.43. The bearish trend would be challenged above €16.64.

Matthieu DRIOL

Short term view - ALD SA : The movement goes on.

The trend is bearish. The movement goes on. The next target is at €12.43, then €12.06. Passing €16.64 would question the continuation of the fall.

Matthieu DRIOL

Analyse court terme - ALD SA : Le mouvement se poursuit.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 12,43 €, puis 12,06 €. Le franchissement de 16,64 € remettrait en cause la suite de la baisse.

Matthieu DRIOL

Analyse moyen terme - ALD SA : La tendance est haussière.

La tendance est haussière. La baisse récente gagne en vigueur. Le prochain support est à 12,43 €. La tendance serait remise en cause par la rupture de 11,08 €.

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