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A new month begins and with it, the updating of the High Five of Portzamparc, this selection of 5 promising average values in the eyes of the analysis office. The month of August did not really keep its promises in terms of performance even if the High Five limited the damage, yielding 3% when the CAC Mid & Small index fell by 5.4% Since the start of the year , the gap is widening between the reference index which drops by 17.6% when the selection of Portzmparc progresses by 11.3%. Over the month of August, it was Reworld Media that weighed on the overall performance, falling by 9.4%, while SSII posted the best increase (+4%).
The month of September is therefore the occasion for arbitration: Equasens and Alten replace Hexaom and SII (which will only have made a short appearance) while Esker, Reworld Media and Roche Bobois remain in place. Detail review.
Read also : Small and medium stocks: no holidays for the High Five of Portzamparc
Small monthly reminder for investors who are not familiar with this selection: it is equally weighted and reviewed every month. Stocks are chosen using a dual approach: excellent fundamentals and short-term market potential. The free float must be greater than 10 million euros. Detailed review of this summer High Five.
Alten: buy with a target price of 143.90 euros
For Maxence Dhoury, the analyst who covers the title, there is an opportunity to be seized “on a premium title”: the balance sheet is healthy and the innovation consulting group shows no sign of slowing down to date. Above all, “auto and aero have just regained their pre-Covid activity and still have room for improvement”. Admittedly, we can expect more significant cost inflation in the second half of the year, but it will be partly offset by the rise in prices and is already priced in by the market, while the valuation is moderate for the group, which displays “one the best profitability in the sector”.
Next event: half-year results on September 22.
Equasens: buy with a target price of 104 euros
Accustomed to the High Five, the former Pharmagest is back. Gaétan Calabro appreciates the profitable growth model of the software publisher for pharmacists and underlines a good net result in the first half. He also appreciates the group’s strengths in the face of uncertainties, in particular high visibility, a resilient business model and a financial structure designed to make acquisitions. Certainly the valuation is demanding but the decline in the title is “to be exploited”.
Next event: half-year results on September 22.
Esker: buy with a target price of 191 euros
The analyst Nicolas Royot persists and signs: Esker is a GARP value, understand growth at reasonable price, a growth value but at a reasonable price. The publisher of document dematerialization solutions is moving towards record results while its price has been divided by three from the highest…
Next event: first half results on September 14
Reworld Media: buy with a target price of 10.30 euros
Despite its poor performance over the past month, Reworld Media is still in the High Five: the first half is deemed resilient and the promising acquisition of Unify still not really integrated into the stock prices
Next event: 1st half results on September 21
Roche Bobois: buy with a target price of 40 euros
Like Reworld Media, the world leader in high-end furniture retains its place in the High Five with a price target maintained at 40 euros.
Next event: first half results on September 29
Laurent Grassin (redaction@boursorama.fr)
