“If there is a rebound in the stock market, then, in my opinion, it will be short-term,” – Chat

Dennis Lantuan: Hello everyone, I’m glad to meet you in this new chat. Today, we are not losing much in this transitional session in the stock market, completely dependent on the evolution of Wall Street, where the S&P 500 must start all over again to avoid falling into the “bear market”. (bear market with a fall of more than 20% since the last peak). New York is currently on the rise.

jerico76: Hi, sir, have you been cautious about Cac 40 during recent conversations? And now, is it worth buying? Thanks in advance for the answer.

I remain cautious. Be that as it may, if there is a rebound, then, in my opinion, it will be short-lived.

Because the main trend is unfavorable. On the one hand, central banks must be proactive in terms of monetary policy, raising their interest rates (the movement has already started in the US, will soon be launched by the European Central Bank) to counter the current sharp rise. in inflation.

However, recent inflation rates in the United States (producer and consumer prices) have shown some decline, but not as much as analysts had hoped. It will take a long time to bring down.

Meanwhile, it has penetrated all the cogs of the economy and within companies, on the cost of supplies, freight, logistics and labor. This will affect the companies’ margins, and therefore their accounts, and therefore their stock market price. See the announcements that operators took very seriously, from Walmart and Target last week.

So I share the opinion of Remy last week, who was in favor of reducing the Cac 40 in the case of a return to 6500 points or even in the range of 6400 to 6500 points, if you want to be a little wider.

I also invite you to vote in our new online poll at the level at which we will see the Cac 40 index at the end of June, ie at the end of the first semester.

It will be downloaded immediately after this chat.

Jean-pierre: Hi, Mr. Lantouin, in your Next Dividends section, you announced € 4.70 per Frey share, isn’t that a mistake? Thank you for all your good advice.

Yes, you are right, this is a mistake. New dividends for Frey are 1.60 euros compared to 1.50 euros, which is 6.7% more than a year. We will correct this error in our future dividend table. Thank you.

Patmars: Hello, Mr. Lantuan. You specified a bid price for Amazon of $ 2,500. I followed you, but the action fell, is it worth stepping up? In the same way, for Walmart, your purchase price decreases. Cordially.

Yes, and we are also back to buying, hence Amazon, as the stock has returned to $ 2,500. I refer you to the article we published on the site, as well as to the one that Sylvie Aubert wrote the same week in our weekly.

The group, which has a fleet of planes and trucks to deliver to customers and has increased its warehouses, has suffered from rising costs due to the war in Ukraine and disruptions in production lines in China.

On the other hand, the sun’s rays came from a subsidiary in the AWS cloud, whose growth is undeniable (+ 37%), and net profit increased by 56%.

Although the group was also a little disappointed in its forecasts for the current quarter, it is very innovative and should return to growth quickly. That’s why we’re back to buying Amazon, and we’re aiming for a $ 3,000 target return. Note that the proposed division into 20 titles will bring the greatest benefit to the availability and liquidity of the stock.

sacha: How can you explain this sudden drop of 10% at the end of the week Unibail-Rodamco-Westfield? However, the group was on the right track to sell certain assets to reduce its debt …

In fact, I asked myself this question, at first I thought it was because of the presence of a commercial real estate company in the United States through Westfield, with risks that weigh on the American consumer in a period of sharp price increases. .

But when I saw another commercial real estate company, Klépierre, fall by almost the same amount, I told myself that there was a general sense of risk in the world that consumers would reduce their purchases altogether, preferring those with basic needs. to the detriment of others.

lechartier: Hello, dear sir and friend: why is Essilor lagging behind, Capgemini is warmly recommended for 250 euros still far away? Thank you.

I remain very committed to these two issues, and their time will come when we will better see the pace and scale of rate increases in the United States and Europe. We are also buyers of EssilorLuxottica and Capgemini. And also from Dassault Systèmes.

For Capgemini we have a target price of 250 euros, for EssilorLuxottica 195 euros and for Dassault Systèmes 55 euros.

JPMarkan: Among the 2 listed green energy companies Neoen and Voltalia (I exclude Albioma, which is the subject of the takeover), which one to buy and why? Is it time to buy?

We just covered Voltalia in our last week. A few days ago, the producer of green electricity gathered its shareholders, which allowed the latest news to take the company’s pulse.

Thus, the meeting was an opportunity to review the activities at the beginning of the year and the challenges of the energy market, which, of course, was also affected by the war in Ukraine.

In the first quarter, turnover amounted to 98.3 million euros, an increase of 54%. While energy sales increased by only 10% to 47 million, services, ie the development and maintenance of power plants on behalf of third parties, accelerated to 67.7 million, more than twice the bill at the end of March 2021.

The targets for 2023 have been confirmed. We are buyers to aim for a target price of 26 euros.

But if you want to know more, I refer you to a great Cecil article this weekend. You can also read it on our website.

Lupine: Hello, Mr. Lantuan, hello readers. I do not understand what explains the fall of Deutsche post, which is 31% since its selection in 10 international investments, and the figures are good. Thanks for the explanation.

However, the latest quarterly data were not well received. However, there is no reason, as they indicate the strength of the group at the financial level.

Turnover increased by almost 20% to 22.6 billion euros, and operating profit increased by more than 13% to 2.2 billion. This is commendable.

The cash is mostly positive, allowing a € 2 billion share buyback program launched in April.

We are buyers to aim for a target price of 55 euros.

Pierre49: Hello, Denis. When you talk about having 30 to 40% cash, what does that mean in PEA? Is it a cash account or should I also consider Livret A and other savings accounts? Cordially.

I would be inclined to think not only about the PEA cash account or about all your availability of savings accounts and others, but also about the amount you allocate to the stock exchange. Thus, this may exceed the single cash in the PEA, but perhaps not all of your available funds, which you can also allocate to other projects or needs, and not entirely to the stock exchange.

Here, our hour of conversation is over, I will schedule a meeting for you next week, this time it will be with Remy a priori. Have a nice week to you all!