| Date rated | Ticker | Company | Rating | Conviction | 12-mo fair value | Price at rating | Latest | Since rating | vs market | Since initiation |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-09-20 | FDR | Fluidra, S.A. | BUY (accumulate) | Medium | €21.59 | €17.68 | €17.65 | −0.2% | −0.3% | −0.3% |
| 2026-09-20 | SCYR | Sacyr, S.A. | BUY (accumulate) | Medium | €4.97 | €4.12 | €4.04 | −2.1% | −2.2% | −2.2% |
| 2026-09-20 | CIE | CIE Automotive, S.A. | BUY (accumulate) | Medium | €32.93 | €25.30 | €25.25 | −0.2% | −0.4% | −0.4% |
| 2026-09-19 | MTS | ArcelorMittal S.A. | SELL (reduce into strength) | Medium | €36.34 | €63.10 | €62.02 | −1.7% | +1.9% | +4.1% 2 calls since 2026-09-16 |
| 2026-09-19 | IAG | International Consolidated Airlines Group, S.A. | BUY (accumulate) | Medium-high | €7.09 | €4.90 | €4.99 | +1.7% | +1.5% | +2.5% 2 calls since 2026-09-16 |
| 2026-09-19 | BKT | Bankinter, S.A. | BUY (accumulate) | Medium | €20.41 | €16.48 | €16.48 | +0.0% | −0.2% | −0.2% 2 calls since 2026-09-16 |
| 2026-09-15 | ELE | Endesa, S.A. | SELL (trim into strength) | Medium-high | €33.00 | €42.22 | €42.23 | +0.0% | +0.3% | +0.3% |
| 2026-09-15 | AENA | Aena S.M.E., S.A. | SELL | Medium-high | €21.00 | €25.00 | €25.78 | +3.1% | −2.8% | −2.8% |
| 2026-09-15 | FER | Ferrovial N.V. | SELL | Medium-high | €38.10 | €47.22 | €48.41 | +2.5% | −2.2% | −2.2% |
| 2026-09-15 | TEF | Telefónica, S.A. | BUY (accumulate) | Medium | €4.45 | €3.69 | €3.37 | −8.7% | −9.1% | −9.1% |
| 2026-09-14 | AVAV | AeroVironment | SELL (reduce into strength) | Medium-high | $94.00 | $146.71 | $158.55 | +8.1% | −7.5% | −7.5% |
| 2026-09-14 | COL | Inmobiliaria Colonial SOCIMI, S.A. | BUY (accumulate) | Medium | €6.57 | €5.07 | €5.00 | −1.3% | −1.4% | −1.4% |
| 2026-09-14 | GRF | Grifols, S.A. | BUY (accumulate) | Medium-high | €12.50 | €9.75 | €9.40 | −3.6% | −3.4% | −3.4% |
| 2026-09-14 | ITX | Industria de Diseño Textil, S.A. (Inditex) | SELL | Medium-high | €38.30 | €53.96 | €52.90 | −2.0% | +1.7% | +1.7% 2 calls since 2026-08-25 |
| 2026-09-14 | MRL | Merlin Properties SOCIMI, S.A. | BUY (accumulate) | Medium | €14.60 | €12.74 | €12.14 | −4.7% | −4.5% | −4.5% |
| 2026-09-14 | ORCL | Oracle | SELL (reduce into strength) | Medium-high | $75.00 | $150.15 | $139.53 | −7.1% | +7.7% | +8.6% 2 calls since 2026-08-14 |
| 2026-09-13 | CIEN | Ciena | SELL | High | $120.96 | $349.54 | $358.43 | +2.5% | −1.9% | −1.9% 2 calls since 2026-09-12 |
| 2026-09-13 | SOL | SOL SpA | SELL | Medium-high | €39.64 | €54.40 | €55.30 | +1.7% | −2.1% | −2.1% 2 calls since 2026-09-12 |
| 2026-09-13 | TEP | Teleperformance | BUY (accumulate) | Medium-high | €136.33 | €69.06 | €71.56 | +3.6% | +4.0% | +3.7% 2 calls since 2026-09-05 |
| 2026-09-05 | 035420 | Naver Corp | BUY (accumulate) | Medium-high | ₩251,000 | ₩213,500 | ₩194,700 | −8.8% | −8.6% | −8.6% |
| 2026-09-05 | ASTS | AST SpaceMobile | SELL | Medium-high | $24.00 | $62.31 | $61.06 | −2.0% | +1.8% | +15.0% 2 calls since 2026-08-11 |
| 2026-09-05 | DTE.DE | Deutsche Telekom AG | BUY (accumulate) | Medium | €31.00 | €28.40 | €26.89 | −5.3% | −3.2% | −2.8% 2 calls since 2026-09-01 |
| 2026-09-05 | GALD | Galderma Group | SELL (trim into strength) | Medium | CHF 134.00 | CHF 158.65 | CHF 162.25 | +2.3% | −5.7% | −5.7% 2 calls since 2026-09-04 |
| 2026-09-05 | KO | Coca-Cola | SELL (trim into strength) | Medium | $76.50 | $88.07 | $88.10 | +0.0% | −0.2% | −0.2% 2 calls since 2026-08-14 |
| 2026-09-05 | LOG | Logista Integral | BUY (accumulate) | Medium-low | €38.90 | €35.28 | €35.74 | +1.3% | +3.4% | +3.4% |
| 2026-09-05 | TRIP | Tripadvisor | BUY (accumulate) | Medium-low | $11.83 | $9.32 | $8.52 | −8.6% | −8.4% | −8.4% |
| 2026-09-04 | AVGO | Broadcom | SELL (reduce) | Medium | $280.00 | $357.16 | $350.36 | −1.9% | +1.3% | +1.3% 2 calls since 2026-08-11 |
| 2026-09-04 | CRDO | Credo Technology | SELL | Medium | $97.00 | $164.17 | $195.97 | +19.4% | −19.9% | −19.9% 2 calls since 2026-07-07 |
| 2026-09-04 | SDZ | Sandoz Group | SELL (reduce into strength) | Medium | CHF 58.00 | CHF 68.36 | CHF 70.78 | +3.5% | −6.9% | −6.9% |
| 2026-09-03 | BAS | BASF SE | BUY (accumulate) | Medium | €60.00 | €53.38 | €52.30 | −2.0% | −0.3% | −0.3% |
| 2026-09-03 | BMW | Bayerische Motoren Werke AG | BUY (accumulate) | Medium-high | €86.00 | €60.68 | €56.46 | −7.0% | −5.0% | −5.0% |
| 2026-09-03 | BN | Danone S.A. | BUY (accumulate) | Medium | €72.23 | €64.26 | €60.14 | −6.4% | −4.5% | −4.5% |
| 2026-09-03 | DBK | Deutsche Bank AG | BUY (accumulate) | Medium | €44.00 | €34.88 | €30.93 | −11.3% | −9.8% | −9.8% |
| 2026-09-03 | DG | VINCI SA | BUY (accumulate) | Medium-high | €136.00 | €111.60 | €110.50 | −1.0% | +0.5% | +0.5% |
| 2026-09-03 | EL | Estée Lauder | SELL | Medium-high | $55.00 | $100.86 | $95.37 | −5.4% | +4.9% | +4.9% |
| 2026-09-03 | IFX | Infineon Technologies AG | SELL (reduce) | Medium | €47.00 | €55.77 | €56.26 | +0.9% | −2.3% | −2.3% |
| 2026-09-03 | MBG | Mercedes-Benz Group AG | BUY (accumulate) | Medium | €67.73 | €46.38 | €41.24 | −11.1% | −9.4% | −9.4% |
| 2026-09-03 | RACE | Ferrari N.V. | SELL (reduce) | Medium | €247.00 | €357.05 | €360.65 | +1.0% | −2.6% | −2.6% |
| 2026-09-03 | RHM | Rheinmetall | BUY (accumulate) | Medium | €1,270.00 | €1,090.40 | €990.00 | −9.2% | −7.6% | −7.6% |
| 2026-09-03 | SGO | Compagnie de Saint-Gobain S.A. | BUY (accumulate) | Medium-high | €87.56 | €75.02 | €69.82 | −6.9% | −5.0% | −5.0% |
| 2026-09-03 | VOW3 | Volkswagen AG (preference) | BUY (accumulate) | Medium | €95.40 | €73.70 | €70.82 | −3.9% | −2.0% | −2.0% |
| 2026-09-02 | AXA | AXA S.A. | BUY (accumulate) | Medium-high | €49.00 | €43.31 | €43.97 | +1.5% | +3.0% | +3.0% |
| 2026-09-02 | EL.PA | EssilorLuxottica | BUY (accumulate) | Medium | €189.10 | €158.70 | €144.70 | −8.8% | −7.4% | −7.4% |
| 2026-09-02 | PRX | Prosus N.V. | BUY (accumulate) | Medium-high | €43.60 | €36.85 | €35.44 | −3.8% | −2.4% | −2.4% |
| 2026-09-02 | SAN.PA | Sanofi S.A. | BUY (accumulate) | Medium-high | €103.00 | €77.16 | €72.10 | −6.6% | −5.1% | −5.1% |
| 2026-09-01 | 601288 | Agricultural Bank of China | BUY (accumulate) | Medium | ¥8.20 | ¥6.92 | ¥6.87 | −0.7% | −1.0% | −1.0% |
| 2026-09-01 | 601939 | China Construction Bank | BUY (accumulate) | Medium | ¥13.80 | ¥10.98 | ¥10.98 | +0.0% | −0.2% | −0.2% |
| 2026-09-01 | REP | Repsol S.A. | BUY (accumulate) | Medium | €32.00 | €27.63 | €31.54 | +14.2% | +16.0% | +16.0% |
| 2026-08-31 | 601398 | Industrial and Commercial Bank of China | BUY (accumulate) | Medium-high | ¥10.30 | ¥8.07 | ¥8.13 | +0.7% | +0.5% | +0.5% |
| 2026-08-31 | MRVL | Marvell Technology | SELL | High | $118.00 | $216.62 | $258.95 | +19.5% | −19.3% | −23.3% 2 calls since 2026-08-11 |
| 2026-08-30 | 300308 | Zhongji Innolight | SELL (reduce into strength) | Medium-high | ¥580.00 | ¥858.35 | ¥895.86 | +4.4% | −4.5% | −4.5% |
| 2026-08-27 | 6857 | Advantest Corporation | SELL (reduce into strength) | Medium-high | 26,500.00 | 35,700.00 | 33,060.00 | −7.4% | +7.8% | +7.8% |
| 2026-08-27 | INTU | Intuit | BUY (accumulate) | Medium-high | $445.00 | $345.88 | $277.13 | −19.9% | −20.2% | −21.7% 2 calls since 2026-08-14 |
| 2026-08-23 | MC | LVMH | BUY (accumulate) | Medium-high | €487.00 | €452.50 | €397.10 | −12.2% | −9.5% | −9.5% |
| 2026-08-23 | SAP | SAP SE | BUY (accumulate) | Medium-high | €220.00 | €188.12 | €184.18 | −2.1% | +0.6% | +0.6% |
| 2026-08-23 | SIE | Siemens AG | BUY (accumulate) | Medium | €313.00 | €280.35 | €274.80 | −2.0% | +0.7% | +0.7% |
| 2026-08-22 | 600519 | Kweichow Moutai | BUY (accumulate) | Medium | ¥1,560.00 | ¥1,272.83 | ¥1,237.00 | −2.8% | −3.2% | −3.2% 2 calls since 2026-08-16 |
| 2026-08-22 | 8306 | Mitsubishi UFJ Financial Group, Inc. | SELL (reduce into strength) | Medium | 2,975.00 | 3,508.00 | 3,573.00 | +1.9% | −1.5% | −1.5% |
| 2026-08-22 | BNP | BNP Paribas SA | BUY (accumulate) | Medium-high | €134.00 | €107.50 | €98.43 | −8.4% | −5.7% | −5.7% |
| 2026-08-22 | XOM | Exxon Mobil Corporation | SELL (reduce into strength) | Medium-high | $140.00 | $165.11 | $162.05 | −1.9% | +2.2% | −2.4% 2 calls since 2026-08-15 |
| 2026-08-21 | 005930 | Samsung Electronics Co., Ltd. | BUY (accumulate) | Medium-high | ₩350,000 | ₩281,500 | ₩285,500 | +1.4% | +1.0% | +1.0% |
| 2026-08-21 | EXPN | Experian | SELL (reduce into strength) | Medium | 2,430 p | 2,953 p | 2,636 p | −10.7% | +11.1% | +11.1% |
| 2026-08-21 | MGNI | Magnite, Inc. | SELL (reduce into strength) | High | $15.00 | $23.35 | $24.07 | +3.1% | −2.3% | −2.3% 2 calls since 2026-08-20 |
| 2026-08-21 | NESN | Nestlé | BUY (accumulate) | Medium | CHF 88.00 | CHF 79.75 | CHF 77.94 | −2.3% | +1.5% | +1.5% |
| 2026-08-21 | VID | Vidrala | BUY (accumulate) | Medium | €100.00 | €89.50 | €88.60 | −1.0% | +1.4% | +1.4% |
| 2026-08-20 | WMT | Walmart | SELL (reduce into strength) | Medium-high | $84.00 | $103.84 | $107.59 | +3.6% | −2.8% | +5.3% 2 calls since 2026-08-14 |
| 2026-08-19 | GD | General Dynamics | SELL (reduce into strength) | Medium | $345.00 | $395.97 | $336.29 | −15.1% | +14.6% | +14.6% 2 calls since 2026-08-15 |
| 2026-08-19 | HD | Home Depot | SELL (reduce) | Medium-high | $245.00 | $344.30 | $292.18 | −15.1% | +15.1% | +15.1% |
| 2026-08-18 | FN | Fabrinet | SELL (reduce) | Medium-high | $285.00 | $482.59 | $398.36 | −17.5% | +17.6% | +17.6% |
| 2026-08-16 | 688256 | Cambricon Technologies | SELL (reduce) | Medium-high | ¥330.00 | ¥1,093.00 | ¥1,091.48 | −0.1% | −0.9% | −0.9% |
| 2026-08-16 | 7203 | Toyota Motor Corporation | BUY (accumulate) | Medium-high | 3,950.00 | 3,020.00 | 2,969.00 | −1.7% | −0.6% | −0.6% |
| 2026-08-15 | CSCO | Cisco Systems, Inc. | SELL (reduce) | Medium-high | $81.00 | $111.68 | $106.97 | −4.2% | +3.2% | +3.2% |
| 2026-08-15 | LRCX | Lam Research Corporation | SELL (reduce into strength) | Medium-high | $242.00 | $332.36 | $307.16 | −7.6% | +6.5% | +6.5% |
| 2026-08-14 | ANET | Arista Networks | SELL (reduce into strength) | Medium-high | $125.00 | $199.17 | $205.70 | +3.3% | −4.3% | −4.3% |
| 2026-08-14 | CDNS | Cadence Design Systems | SELL (reduce) | Medium | $217.00 | $326.06 | $322.00 | −1.2% | +0.2% | +0.2% |
| 2026-08-14 | LMT | Lockheed Martin | BUY (accumulate) | Medium-high | $675.00 | $598.72 | $523.70 | −12.5% | −11.3% | −11.3% |
| 2026-08-14 | RL | Ralph Lauren | SELL (reduce into strength) | Medium-high | $300.00 | $389.46 | $351.86 | −9.7% | +8.6% | +8.6% |
| 2026-08-14 | RTX | RTX Corp | SELL (reduce into strength) | Medium-high | $178.00 | $220.11 | $188.61 | −14.3% | +13.1% | +13.1% |
| 2026-08-14 | SMCI | Super Micro Computer | BUY (accumulate) | Medium | $51.00 | $39.69 | $41.51 | +4.6% | +5.6% | +5.6% |
| 2026-08-13 | ABNB | Airbnb | SELL (reduce into strength) | Medium-high | $139.00 | $180.09 | $151.39 | −15.9% | +14.8% | +14.8% |
| 2026-08-13 | CELH | Celsius Holdings | SELL (reduce) | Medium | $24.00 | $27.62 | $28.43 | +2.9% | −4.0% | −4.0% |
| 2026-08-13 | CMG | Chipotle Mexican Grill | SELL (reduce into strength) | Medium-high | $25.00 | $32.62 | $32.01 | −1.9% | +0.7% | +0.7% |
| 2026-08-13 | EXPE | Expedia Group | BUY (accumulate) | Medium | $375.00 | $325.57 | $261.75 | −19.6% | −18.5% | −18.5% |
| 2026-08-13 | FICO | Fair Isaac | SELL | Medium-high | $700.00 | $1,044.21 | $856.48 | −18.0% | +16.9% | +16.9% |
| 2026-08-13 | MNST | Monster Beverage | SELL (reduce into strength) | Medium-high | $33.00 | $45.98 | $42.67 | −7.2% | +6.1% | +6.1% |
| 2026-08-13 | NBIS | Nebius Group | SELL (reduce into strength) | Medium-high | $130.00 | $255.04 | $243.48 | −4.5% | +3.3% | +3.3% |
| 2026-08-13 | RMS | Hermès | SELL (reduce) | Medium-high | €1,150.00 | €1,603.00 | €1,354.50 | −15.5% | +12.0% | +12.9% 2 calls since 2026-08-12 |
| 2026-08-12 | LRN | Stride | BUY (accumulate) | Medium | $98.00 | $79.09 | $80.04 | +1.2% | +1.5% | −0.1% 3 calls since 2026-06-18 |
| 2026-08-11 | HIMS | Hims & Hers Health | SELL (reduce) | Medium-high | $21.00 | $30.51 | $29.28 | −4.0% | +3.7% | +3.7% |
| 2026-08-11 | IONQ | IonQ | SELL (reduce into strength) | Medium-high | $27.00 | $42.53 | $44.98 | +5.8% | −6.6% | −6.6% |
| 2026-08-11 | PLTR | Palantir | SELL (reduce into strength) | Medium-high | $127.00 | $175.23 | $192.59 | +9.9% | −10.7% | −10.7% |
| 2026-08-11 | SNDK | SanDisk | SELL | Medium-high | $770.00 | $1,237.92 | $1,753.62 | +41.7% | −42.5% | −42.5% |
| 2026-08-11 | USAR | USA Rare Earth | SELL (reduce into strength) | Medium-high | $11.00 | $18.91 | $15.38 | −18.7% | +18.4% | +18.4% 2 calls since 2026-06-16 |
| 2026-08-10 | INTC | Intel Corporation | SELL (reduce into strength) | High | $42.00 | $98.12 | $127.39 | +29.8% | −30.6% | −30.6% |
| 2026-08-10 | META | Meta Platforms | SELL (reduce into strength) | Medium-high | $285.00 | $598.63 | $777.59 | +29.9% | −30.7% | −30.7% |
| 2026-08-09 | AMD | Advanced Micro Devices | SELL | Low | $343.00 | $483.36 | $629.26 | +30.2% | −30.9% | −30.9% 2 calls since 2026-08-08 |
| 2026-08-09 | MSFT | Microsoft | SELL | High | $380.00 | $499.99 | $497.93 | −0.4% | −0.3% | −0.3% 2 calls since 2026-08-08 |
| 2026-08-09 | MU | Micron Technology | SELL | High | $700.00 | $877.57 | $1,080.53 | +23.1% | −23.8% | −23.8% 2 calls since 2026-08-08 |
| 2026-08-09 | SPCX | SpaceX (Space Exploration) | SELL | High | $50.00 | $133.11 | $148.03 | +11.2% | −11.9% | −11.9% 2 calls since 2026-08-08 |
| 2026-08-05 | AAPL | Apple | SELL | — | $250.00 | $308.90 | $335.92 | +8.7% | −9.2% | −9.2% |
| 2026-08-04 | NOKIA | Nokia Oyj | SELL | — | €6.10 | €8.10 | €9.07 | +12.0% | −14.7% | −14.7% 2 calls since 2026-07-26 |
| 2026-08-02 | AMZN | Amazon | SELL (reduce into strength) | — | $230.00 | $271.58 | $249.38 | −8.2% | +11.0% | +11.0% |
| 2026-08-02 | ARM | Arm Holdings | SELL (reduce) | — | $140.00 | $239.69 | $306.34 | +27.8% | −24.9% | −24.9% |
| 2026-08-02 | IBKR | Interactive Brokers | SELL (reduce) | — | $68.00 | $87.99 | $89.82 | +2.1% | +0.8% | +0.8% |
| 2026-08-02 | SPGI | S&P Global | SELL (reduce) | — | $335.00 | $411.93 | $403.25 | −2.1% | +5.0% | +5.0% |
| 2026-07-25 | BX | Blackstone | BUY (accumulate) | — | $148.00 | $129.97 | $117.21 | −9.8% | −13.8% | −13.8% |
| 2026-07-25 | DECK | Deckers Outdoor | BUY (accumulate) | — | $130.00 | $96.04 | $78.68 | −18.1% | −22.0% | −22.0% |
| 2026-07-25 | NVR | NVR, Inc. | BUY (accumulate) | — | $7,000.00 | $6,414.67 | $6,235.49 | −2.8% | −6.7% | −6.7% |
| 2026-07-24 | AXP | American Express | BUY (accumulate) | — | $375.00 | $320.14 | $305.68 | −4.5% | −8.5% | −8.5% |
| 2026-07-24 | EFX | Equifax Inc. | BUY (accumulate) | — | $215.00 | $166.72 | $148.80 | −10.7% | −14.7% | −14.7% |
| 2026-07-24 | MSCI | MSCI Inc. | BUY (accumulate) | — | $670.00 | $552.51 | $556.08 | +0.6% | −3.3% | −3.3% |
| 2026-07-24 | TSLA | Tesla, Inc. | SELL (reduce) | — | $255.00 | $319.69 | $377.94 | +18.2% | −14.3% | −14.3% |
| 2026-07-23 | RY4C | Ryanair Holdings | BUY (accumulate) | — | €29.00 | €23.69 | €22.72 | −4.1% | −3.7% | −3.7% |
| 2026-07-20 | ABBN | ABB Ltd | SELL | — | CHF 62.00 | CHF 79.20 | CHF 80.50 | +1.6% | −4.1% | −4.1% |
| 2026-07-20 | BLK | BlackRock | BUY (accumulate) | — | $1,300.00 | $1,065.98 | $1,073.45 | +0.7% | −2.8% | −2.8% |
| 2026-07-20 | C | Citigroup | BUY (accumulate) | — | $145.00 | $129.43 | $132.11 | +2.1% | −1.4% | −1.4% |
| 2026-07-14 | GS | Goldman Sachs | SELL | — | $800.00 | $1,142.44 | $923.29 | −19.2% | +21.3% | +21.3% |
| Date rated | Ticker | Company | Rating | Conviction | 12-mo fair value | Price at rating | Latest | Price change | Earlier calls |
|---|---|---|---|---|---|---|---|---|---|
| 2026-09-20 | CABK | CaixaBank, S.A. | HOLD | Medium | €12.59 | €12.99 | €12.89 | −0.8% | |
| 2026-09-20 | ACX | Acerinox, S.A. | HOLD (trim into strength) | Medium | €15.90 | €17.18 | €17.32 | +0.8% | |
| 2026-09-20 | CIRSA | Cirsa Enterprises, S.A. | HOLD | Medium | €21.29 | €19.50 | €18.86 | −3.3% | |
| 2026-09-20 | ROVI | Laboratorios Farmacéuticos Rovi, S.A. | HOLD (reduce into strength) | Medium | €53.96 | €57.65 | €59.50 | +3.2% | |
| 2026-09-19 | UNI | Unicaja Banco, S.A. | HOLD | Medium | €3.61 | €3.60 | €3.57 | −0.8% | 2 calls since 2026-09-16 — see superseded |
| 2026-09-19 | NTGY | Naturgy Energy Group, S.A. | HOLD | Medium | €30.09 | €29.58 | €29.50 | −0.3% | 2 calls since 2026-09-16 — see superseded |
| 2026-09-19 | AMS | Amadeus IT Group, S.A. | HOLD | Medium | €55.44 | €54.98 | €53.82 | −2.1% | 2 calls since 2026-09-16 — see superseded |
| 2026-09-19 | MAP | MAPFRE, S.A. | HOLD (trim into strength) | Medium | €4.32 | €4.40 | €4.33 | −1.6% | 2 calls since 2026-09-16 — see superseded |
| 2026-09-19 | IDR | Indra Sistemas, S.A. | HOLD | Medium | €61.42 | €61.80 | €60.76 | −1.7% | 2 calls since 2026-09-16 — see superseded |
| 2026-09-15 | ACS | ACS, Actividades de Construcción y Servicios, S.A. | HOLD (accumulate) | Medium | €107.00 | €91.45 | €92.75 | +1.4% | |
| 2026-09-15 | SAB | Banco de Sabadell, S.A. | HOLD (trim into strength) | Medium | €3.44 | €3.70 | €3.71 | +0.2% | |
| 2026-09-15 | CLNX | Cellnex Telecom, S.A. | HOLD (reduce into strength) | Medium | €23.60 | €25.40 | €24.26 | −4.5% | |
| 2026-09-15 | ANA | ACCIONA, S.A. | HOLD (reduce into strength) | Medium-high | €191.00 | €202.00 | €210.00 | +4.0% | |
| 2026-09-14 | ANE | Corporación Acciona Energías Renovables, S.A. | HOLD | Medium | €21.80 | €20.68 | €21.78 | +5.3% | |
| 2026-09-14 | CAF | Construcciones y Auxiliar de Ferrocarriles, S.A. | HOLD (trim into strength) | Medium-high | €76.08 | €75.20 | €76.70 | +2.0% | |
| 2026-09-14 | DIA | Distribuidora Internacional de Alimentacion, S.A. | HOLD (trim into strength) | Medium | €40.00 | €41.45 | €44.60 | +7.6% | |
| 2026-09-14 | ENG | Enagas, S.A. | HOLD | Medium-high | €15.86 | €16.15 | €16.61 | +2.8% | |
| 2026-09-14 | FCC | Fomento de Construcciones y Contratas, S.A. | HOLD | Medium | €10.74 | €10.70 | €10.56 | −1.3% | |
| 2026-09-14 | MEL | Melia Hotels International, S.A. | HOLD (accumulate) | Medium | €11.32 | €9.80 | €9.80 | +0.0% | |
| 2026-09-14 | PUIG | Puig Brands | HOLD | Medium-high | €17.52 | €17.45 | €17.73 | +1.6% | 2 calls since 2026-08-21 — see superseded |
| 2026-09-14 | RED | Redeia Corporación, S.A. | HOLD | Medium-high | €14.16 | €14.78 | €15.10 | +2.2% | |
| 2026-09-05 | DGE | Diageo | HOLD (reduce into strength) | Medium | 1,515 p | 1,657 p | 1,642 p | −0.9% | |
| 2026-09-05 | EFN | Element Fleet Management | HOLD | Medium | C$27.54 | C$26.35 | C$23.80 | −9.7% | |
| 2026-09-05 | FLUT | Flutter Entertainment | HOLD | Medium | $106.11 | $100.11 | $81.89 | −18.2% | |
| 2026-09-05 | GSY | goeasy | HOLD | Medium-low | C$51.99 | C$43.59 | C$42.91 | −1.6% | |
| 2026-09-05 | IBE | Iberdrola, S.A. | HOLD | Medium-high | €19.64 | €19.89 | €20.25 | +1.8% | 2 calls since 2026-09-01 — see superseded |
| 2026-09-05 | QCOM | Qualcomm | HOLD | Medium | $160.00 | $168.74 | $194.26 | +15.1% | 2 calls since 2026-08-14 — see superseded |
| 2026-09-04 | CRM | Salesforce | HOLD (trim into strength) | Medium | $252.00 | $264.43 | $238.22 | −9.9% | |
| 2026-09-04 | FIVE | Five Below | HOLD (reduce into strength) | Medium | $214.00 | $239.96 | $222.38 | −7.3% | |
| 2026-09-03 | ARGX | argenx SE | HOLD (trim into strength) | Medium | €962.89 | €900.60 | €834.80 | −7.3% | |
| 2026-09-03 | BAYN | Bayer AG | HOLD | Medium | €48.83 | €49.18 | €49.38 | +0.4% | |
| 2026-09-03 | BBIO | BridgeBio Pharma | HOLD | Medium | $70.00 | $75.41 | $66.28 | −12.1% | |
| 2026-09-03 | DB1 | Deutsche Boerse AG | HOLD (reduce into strength) | Medium-high | €266.00 | €278.90 | €282.80 | +1.4% | |
| 2026-09-03 | DHL | DHL Group | HOLD (reduce into strength) | Medium | €49.00 | €54.88 | €56.48 | +2.9% | |
| 2026-09-03 | ENI | Eni S.p.A. | HOLD | Medium-high | €23.89 | €23.81 | €24.38 | +2.4% | |
| 2026-09-03 | MUV2 | Muenchener Rueckversicherungs-Gesellschaft AG | HOLD | Medium-high | €514.00 | €523.20 | €512.60 | −2.0% | |
| 2026-09-03 | NDA | Nordea Bank Abp | HOLD | Medium-high | €18.09 | €17.54 | €17.77 | +1.3% | |
| 2026-09-02 | AI | Air Liquide | HOLD (reduce into strength) | Medium-high | €152.00 | €173.70 | €168.12 | −3.2% | |
| 2026-09-02 | ENEL | Enel S.p.A. | HOLD | Medium-high | €9.40 | €9.05 | €8.82 | −2.6% | |
| 2026-09-02 | ING | ING Groep N.V. | HOLD | Medium | €33.86 | €31.31 | €31.52 | +0.7% | |
| 2026-09-02 | ISP | Intesa Sanpaolo S.p.A. | HOLD (trim into strength) | Medium | €6.20 | €6.68 | €6.72 | +0.7% | |
| 2026-09-01 | 601857 | PetroChina | HOLD | Medium-high | ¥12.00 | ¥11.43 | ¥10.95 | −4.2% | |
| 2026-09-01 | 601988 | Bank of China | HOLD (accumulate) | Medium-high | ¥7.40 | ¥6.67 | ¥6.62 | −0.7% | |
| 2026-09-01 | BUD | Anheuser-Busch InBev SA/NV | HOLD (trim into strength) | Medium-high | $86.00 | $79.47 | $77.42 | −2.6% | |
| 2026-08-30 | NVDA | NVIDIA | HOLD | Medium-high | $245.00 | $217.55 | $224.58 | +3.2% | 3 calls since 2026-08-08 — see superseded |
| 2026-08-27 | AIR | Airbus SE | HOLD | Medium-high | €212.00 | €205.85 | €194.38 | −5.6% | |
| 2026-08-27 | ANF | Abercrombie & Fitch | HOLD (trim into strength) | Medium | $150.00 | $147.75 | $134.35 | −9.1% | 2 calls since 2026-08-14 — see superseded |
| 2026-08-27 | FII | Foxconn Industrial Internet | HOLD (trim into strength) | Medium-high | ¥58.00 | ¥60.57 | ¥61.00 | +0.7% | |
| 2026-08-27 | SAF | Safran S.A. | HOLD (trim into strength) | Medium-high | €310.00 | €348.20 | €334.30 | −4.0% | |
| 2026-08-26 | MAD | Mader Group | HOLD | Medium-high | A$6.65 | A$6.42 | A$6.44 | +0.3% | |
| 2026-08-26 | SU | Schneider Electric SE | HOLD (trim into strength) | Medium-high | €274.00 | €299.20 | €289.80 | −3.1% | |
| 2026-08-26 | TTE | TotalEnergies SE | HOLD (trim into strength) | Medium-high | €74.50 | €75.28 | €81.05 | +7.7% | |
| 2026-08-25 | 9984 | SoftBank Group Corp. | HOLD | Medium | 5,290.00 | 5,087.00 | 6,352.00 | +24.9% | |
| 2026-08-23 | OR | L'Oréal | HOLD | Medium-high | €365.00 | €386.60 | €384.65 | −0.5% | |
| 2026-08-22 | ALV | Allianz SE | HOLD | Medium-high | €455.00 | €440.80 | €419.20 | −4.9% | |
| 2026-08-22 | BBVA | Banco Bilbao Vizcaya Argentaria, S.A. | HOLD (reduce into strength) | Medium-high | €22.00 | €24.82 | €24.88 | +0.2% | |
| 2026-08-22 | CEG | Constellation Energy | HOLD (trim into strength) | Medium-high | $280.00 | $272.88 | $261.62 | −4.1% | 3 calls since 2026-06-12 — see superseded |
| 2026-08-22 | UCG | UniCredit S.p.A. | HOLD | Medium-high | €88.00 | €83.03 | €82.18 | −1.0% | |
| 2026-08-21 | 000660 | SK hynix Inc. | HOLD (trim into strength) | Medium | ₩1,670,000 | ₩1,730,000 | ₩1,862,000 | +7.6% | |
| 2026-08-21 | BA | BAE Systems | HOLD (reduce into strength) | Medium-high | 1,870 p | 2,126 p | 1,992 p | −6.3% | 4 calls since 2026-08-15 — see superseded |
| 2026-08-15 | INSW | International Seaways, Inc. | HOLD (trim into strength) | Medium-high | $99.00 | $97.05 | $104.85 | +8.0% | |
| 2026-08-15 | OXY | Occidental Petroleum | HOLD | Medium-high | $60.00 | $58.36 | $58.05 | −0.5% | |
| 2026-08-15 | VST | Vistra | HOLD | Medium-high | $139.00 | $148.13 | $137.94 | −6.9% | |
| 2026-08-14 | COST | Costco Wholesale | HOLD (reduce) | Medium-high | $864.00 | $961.85 | $896.48 | −6.8% | |
| 2026-08-14 | DIS | Walt Disney | HOLD | Medium-high | $117.00 | $106.98 | $105.55 | −1.3% | |
| 2026-08-14 | MAR | Marriott International | HOLD (reduce into strength) | Medium | $342.00 | $352.53 | $351.51 | −0.3% | |
| 2026-08-14 | MCD | McDonald's | HOLD | Medium | $248.00 | $273.58 | $237.02 | −13.4% | |
| 2026-08-14 | V | Visa | HOLD (trim into strength) | Medium | $320.00 | $364.36 | $367.98 | +1.0% | |
| 2026-08-12 | BKNG | Booking Holdings | HOLD (accumulate) | Medium-high | $225.00 | $212.87 | $157.41 | −26.1% | |
| 2026-08-12 | LITE | Lumentum | HOLD (trim into strength) | Medium-high | $725.00 | $932.47 | $929.04 | −0.4% | |
| 2026-08-12 | SPOT | Spotify Technology | HOLD (reduce) | Medium | $400.00 | $501.00 | $511.38 | +2.1% | |
| 2026-08-12 | TDW | Tidewater | HOLD (trim into strength) | Medium-high | $84.00 | $91.20 | $86.82 | −4.8% | 3 calls since 2026-06-18 — see superseded |
| 2026-08-10 | TTD | The Trade Desk | HOLD (reduce into strength) | Medium-high | $12.00 | $13.80 | $12.63 | −8.5% | 2 calls since 2026-08-08 — see superseded |
| 2026-08-07 | APP | AppLovin | HOLD | Medium | $350.00 | $335.67 | $312.47 | −6.9% | 2 calls since 2026-06-12 — see superseded |
| 2026-08-05 | LLY | Eli Lilly | HOLD (trim into strength) | — | $1,035.00 | $1,169.86 | $1,183.86 | +1.2% | 2 calls since 2026-07-05 — see superseded |
| 2026-08-05 | VRT | Vertiv Holdings | HOLD (trim into strength) | — | $254.00 | $277.94 | $245.30 | −11.7% | 2 calls since 2026-06-12 — see superseded |
| 2026-08-02 | TSM | TSMC (ADR) | HOLD | — | $390.00 | $404.25 | $451.15 | +11.6% | |
| 2026-07-31 | ACN | Accenture | HOLD (reduce into strength) | — | $140.00 | $165.92 | $177.41 | +6.9% | |
| 2026-07-26 | MS | Morgan Stanley | HOLD | — | $208.00 | $214.42 | $196.34 | −8.4% | |
| 2026-07-26 | NOC | Northrop Grumman | HOLD | — | $560.00 | $542.24 | $508.98 | −6.1% | |
| 2026-07-25 | GOOGL | Alphabet | HOLD | — | $345.00 | $319.74 | $342.36 | +7.1% | |
| 2026-07-24 | JNJ | Johnson & Johnson | HOLD | — | $258.00 | $259.27 | $270.68 | +4.4% | |
| 2026-07-24 | URI | United Rentals | HOLD | — | $1,100.00 | $1,136.00 | $1,021.67 | −10.1% | |
| 2026-07-23 | SAN | Banco Santander | HOLD | — | €11.00 | €11.61 | €12.53 | +7.9% | |
| 2026-07-20 | ASML | ASML Holding | HOLD | — | $1,850.00 | $1,742.51 | $1,722.50 | −1.1% | |
| 2026-07-20 | BAC | Bank of America | HOLD | — | $60.00 | $60.74 | $56.03 | −7.8% | |
| 2026-07-19 | NFLX | Netflix | HOLD | — | $76.00 | $68.95 | $71.72 | +4.0% | |
| 2026-07-14 | JPM | JPMorgan Chase | HOLD | — | $330.00 | $342.68 | $338.56 | −1.2% | |
| 2026-07-10 | DAL | Delta Air Lines | HOLD | — | $92.00 | $87.45 | $82.76 | −5.4% |
| Date rated | Ticker | Company | Rating | 12-mo fair value | Price at rating | Superseded | Price at close | Return while it stood | vs market |
|---|---|---|---|---|---|---|---|---|---|
| 2026-09-16 report → | MTS | ArcelorMittal S.A. | SELL (reduce into strength) | €43.00 | €64.68 | 2026-09-19 | €63.10 | −2.4% | +2.2% |
| 2026-09-16 report → | UNI | Unicaja Banco, S.A. | HOLD (trim into strength) | €3.58 | €3.65 | 2026-09-19 | €3.60 | −1.4% | −1.2% |
| 2026-09-16 report → | NTGY | Naturgy Energy Group, S.A. | HOLD (trim into strength) | €28.59 | €29.58 | 2026-09-19 | €29.58 | +0.0% | +0.3% |
| 2026-09-16 report → | AMS | Amadeus IT Group, S.A. | HOLD | €53.63 | €55.48 | 2026-09-19 | €54.98 | −0.9% | −0.6% |
| 2026-09-16 report → | IAG | International Consolidated Airlines Group, S.A. | BUY (accumulate) | €6.51 | €4.87 | 2026-09-19 | €4.90 | +0.7% | +0.9% |
| 2026-09-16 report → | BKT | Bankinter, S.A. | HOLD | €17.59 | €16.62 | 2026-09-19 | €16.48 | −0.8% | −0.6% |
| 2026-09-16 report → | MAP | MAPFRE, S.A. | HOLD (trim into strength) | €4.58 | €4.43 | 2026-09-19 | €4.40 | −0.6% | −0.4% |
| 2026-09-16 report → | IDR | Indra Sistemas, S.A. | HOLD (trim into strength) | €56.00 | €61.88 | 2026-09-19 | €61.80 | −0.1% | +0.1% |
| 2026-09-12 report → | CIEN | Ciena | SELL (reduce into strength) | $230.00 | $349.54 | 2026-09-13 | $349.54 | +0.0% | +0.0% |
| 2026-09-12 report → | SOL | SOL SpA | SELL | €40.00 | €54.40 | 2026-09-13 | €54.40 | +0.0% | +0.0% |
| 2026-09-05 report → | TEP | Teleperformance | BUY (accumulate) | €116.00 | €70.44 | 2026-09-13 | €69.06 | −2.0% | −0.3% |
| 2026-09-04 report → | GALD | Galderma Group | SELL (reduce into strength) | CHF 125.00 | CHF 158.65 | 2026-09-05 | CHF 158.65 | +0.0% | −0.0% |
| 2026-09-01 report → | DTE.DE | Deutsche Telekom AG | BUY (accumulate) | €32.50 | €28.17 | 2026-09-05 | €28.40 | +0.8% | +0.4% |
| 2026-09-01 report → | IBE | Iberdrola, S.A. | HOLD (accumulate) | €21.00 | €19.89 | 2026-09-05 | €19.89 | +0.0% | −0.4% |
| 2026-08-25 report → | ITX | Industria de Diseño Textil, S.A. (Inditex) | HOLD (trim into strength) | €51.00 | €58.52 | 2026-09-14 | €53.96 | −7.8% | −4.8% |
| 2026-08-21 report → | PUIG | Puig Brands | HOLD (trim into strength) | €16.20 | €17.12 | 2026-09-14 | €17.45 | +1.9% | +4.1% |
| 2026-08-20 report → | BA | BAE Systems | HOLD (reduce into strength) | 1,980 p | 2,145 p | 2026-08-21 | 2,126 p | −0.9% | −0.9% |
| 2026-08-20 report → | MGNI | Magnite, Inc. | SELL (reduce into strength) | $16.50 | $23.35 | 2026-08-21 | $23.35 | +0.0% | −0.0% |
| 2026-08-19 report → | BA | BAE Systems | SELL (reduce into strength) | 1,750 p | 2,162 p | 2026-08-20 | 2,145 p | −0.8% | −0.5% |
| 2026-08-16 report → | 600519 | Kweichow Moutai | HOLD | ¥1,400.00 | ¥1,341.99 | 2026-08-22 | ¥1,272.83 | −5.2% | −3.7% |
| 2026-08-15 report → | XOM | Exxon Mobil Corporation | SELL (reduce into strength) | $118.00 | $160.09 | 2026-08-22 | $165.11 | +3.1% | −4.6% |
| 2026-08-15 report → | BA | BAE Systems | HOLD (trim into strength) | 1,900 p | 2,258 p | 2026-08-19 | 2,162 p | −4.3% | −3.6% |
| 2026-08-15 report → | GD | General Dynamics | HOLD (trim into strength) | $366.00 | $395.78 | 2026-08-19 | $395.97 | +0.0% | +0.7% |
| 2026-08-14 report → | ORCL | Oracle | SELL (reduce into strength) | $130.00 | $154.30 | 2026-09-14 | $150.15 | −2.7% | +0.9% |
| 2026-08-14 report → | KO | Coca-Cola | HOLD (trim into strength) | $79.00 | $87.42 | 2026-09-05 | $88.07 | +0.7% | +1.8% |
| 2026-08-14 report → | QCOM | Qualcomm | SELL (reduce) | $138.00 | $164.53 | 2026-09-05 | $168.74 | +2.6% | −3.6% |
| 2026-08-14 report → | ANF | Abercrombie & Fitch | BUY (accumulate) | $134.00 | $108.82 | 2026-08-27 | $147.75 | +35.8% | +37.2% |
| 2026-08-14 report → | INTU | Intuit | BUY (accumulate) | $415.00 | $358.29 | 2026-08-27 | $345.88 | −3.5% | −1.9% |
| 2026-08-14 report → | WMT | Walmart | SELL (reduce into strength) | $90.00 | $115.72 | 2026-08-20 | $103.84 | −10.3% | +8.4% |
| 2026-08-12 report → | RMS | Hermès | SELL (reduce) | €1,100.00 | €1,621.50 | 2026-08-13 | €1,603.00 | −1.1% | +0.8% |
| 2026-08-11 report → | ASTS | AST SpaceMobile | SELL (reduce into strength) | $28.00 | $71.63 | 2026-09-05 | $62.31 | −13.0% | +12.9% |
| 2026-08-11 report → | AVGO | Broadcom | HOLD (trim into strength) | $435.00 | $422.40 | 2026-09-04 | $357.16 | −15.4% | −15.2% |
| 2026-08-11 report → | MRVL | Marvell Technology | SELL (reduce into strength) | $155.00 | $208.56 | 2026-08-31 | $216.62 | +3.9% | −4.9% |
| 2026-08-10 report → | NVDA | NVIDIA | HOLD (trim into strength) | $220.00 | $223.96 | 2026-08-30 | $217.55 | −2.9% | −2.3% |
| 2026-08-08 report → | NVDA | NVIDIA | SELL (reduce into strength) | $172.00 | $223.96 | 2026-08-10 | $223.96 | +0.0% | +0.0% |
| 2026-08-08 report → | TTD | The Trade Desk | HOLD | $13.00 | $13.80 | 2026-08-10 | $13.80 | +0.0% | +0.0% |
| 2026-08-08 report → | AMD | Advanced Micro Devices | SELL | $220.00 | $483.36 | 2026-08-09 | $483.36 | +0.0% | +0.0% |
| 2026-08-08 report → | MSFT | Microsoft | SELL | $335.00 | $499.99 | 2026-08-09 | $499.99 | +0.0% | +0.0% |
| 2026-08-08 report → | MU | Micron Technology | SELL | $451.00 | $877.57 | 2026-08-09 | $877.57 | +0.0% | +0.0% |
| 2026-08-08 report → | SPCX | SpaceX (Space Exploration) | SELL (high conviction on valuation, low conviction on timing) | $68.00 | $133.11 | 2026-08-09 | $133.11 | +0.0% | +0.0% |
| 2026-08-07 report → | CEG | Constellation Energy | HOLD (trim into strength) | $240.00 | $261.10 | 2026-08-22 | $272.88 | +4.5% | +5.0% |
| 2026-08-04 report → | LRN | Stride | BUY (accumulate) | $97.00 | $80.45 | 2026-08-12 | $79.09 | −1.7% | −1.6% |
| 2026-08-04 report → | TDW | Tidewater | HOLD | $86.00 | $84.19 | 2026-08-12 | $91.20 | +8.3% | +8.4% |
| 2026-07-26 | NOKIA | Nokia Oyj | HOLD | €8.50 | €8.22 | 2026-08-04 | €8.10 | −1.5% | −3.0% |
| 2026-07-07 report → | CRDO | Credo Technology | HOLD | $268.00 | $265.55 | 2026-09-04 | $164.17 | −38.2% | −41.4% |
| 2026-07-05 report → | LLY | Eli Lilly | HOLD | $1,290.00 | $1,210.50 | 2026-08-05 | $1,169.86 | −3.4% | −6.6% |
| 2026-06-18 | LRN | Stride | HOLD (accumulate) | $103.00 | $84.00 | 2026-08-04 | $80.45 | −4.2% | −7.4% |
| 2026-06-18 | TDW | Tidewater | BUY (accumulate) | $78.00 | $63.49 | 2026-08-04 | $84.19 | +32.6% | +29.5% |
| 2026-06-16 report → | USAR | USA Rare Earth | HOLD | $20.00 | $21.74 | 2026-08-11 | $18.91 | −13.0% | −15.9% |
| 2026-06-12 report → | CEG | Constellation Energy | BUY | $310.00 | $253.76 | 2026-08-07 | $261.10 | +2.9% | −0.9% |
| 2026-06-12 report → | APP | AppLovin | HOLD | $480.00 | $496.77 | 2026-08-07 | $335.67 | −32.4% | −36.2% |
| 2026-06-12 report → | VRT | Vertiv Holdings | HOLD | $290.00 | $302.87 | 2026-08-05 | $277.94 | −8.2% | −12.2% |
Published in full so the record can be checked rather than taken on trust. The rules below were fixed before the figures were computed and are applied to every name without exception.
Updating a report is ordinary analyst work. When a rating changes, the previous call is closed, not deleted: it keeps its date, its price and its fair value, and a new call opens. Since rating measures the current call only. Since initiation chain-links every call on that name from the day coverage began. This follows the approach used by LSEG StarMine, which rebalances whenever an analyst adds coverage, drops coverage or changes a rating.
A gain in a rising market is not a result. Every return is shown next to the same-period return of a broad index, and vs market is the difference. The index is fixed by the region and currency of the line we priced — not the trading venue, not the company’s domicile — so no currency effect leaks into what we call judgement:
| Lines | Benchmark |
|---|---|
| US-listed (USD) | S&P 500 |
| Euro-listed (EUR) | STOXX Europe 600 |
| Swiss-listed (CHF) | Swiss Market Index |
| Taiwan-listed (TWD) | TAIEX |
Choosing a benchmark name by name, after the outcome is known, would make it a lever. It is fixed in advance and published here for that reason.
Holds are listed in full but contribute nothing to the figures. A share we rated Hold rising 30% is not a result of ours, and counting it would mean most of this record was simply the market. Sells are scored as short positions: a share that falls while its market rises counts in our favour, and one that rises against us counts against.
Dividends are excluded from both the shares and the indices. That is internally consistent but it is not neutral, and it does not fall evenly across our own recommendations:
The spread between those two groups is therefore about three points a year, in favour of the second. We publish the limitation rather than correct it because total-return index data is not available to us for every market we cover, and applying one method to some names and another to the rest would be worse than the bias itself. Prices are last close, not live.
Coverage began in June 2026. A 12-month fair value cannot be assessed in weeks, and no figure here carries statistical weight yet. It is published from the beginning so that it accumulates honestly instead of being assembled once the outcome is known.
Past performance does not indicate future results. Research disclosures →
Independent equity research by José Luis Pascual, CFA.
José Luis Pascual · Calle Manuela Malasaña 5, 28004 Madrid, Spain · [email protected]