Ageas to acquire remaining 25% stake in Belgian business from BNP

Investing.com -- Kloeckner & Co (ETR:KCO) stock surged 23.3% after the German metals company confirmed it is in discussions regarding a potential voluntary public takeover offer from U.S. metals processor Worthington Steel (NYSE:WS).

The company revealed over the weekend that Worthington Steel is currently conducting due diligence as part of the process that could lead to the acquisition of all Kloeckner’s shares.

This confirmation triggered significant investor interest, sending the stock sharply higher during the trading session.

The potential acquisition would mark a significant consolidation in the metals processing industry, bringing together the German metals company with the American processor.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com — Semiconductors have dominated investor attention this year. Blue chip names such as TSMC, Broadcom and ASML are now widely recognized, yet momentum may be shifting toward smaller, lesser known companies that are rapidly gaining ground in the industry. Could this be where the next real opportunities are emerging?

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• NASDAQGS:HIMX Himax: +20.61%
• NASDAQGS:ENTG Entegris: +16.86%
• NASDAQGS:AMKR Amkor: +14.78%
• NASDAQGS:FTRE Fortrea Holdings +14.47%
• NASDAQGS:SAIA Saia: +12.88%
• NYSE:CRM Salesforce Inc: +11.91%
• NASDAQGS:TER Teradyne: +11.77%
• NYSE:VSCO Victoria’s Secret Co: +11.17%

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• IBSE:VERUS Verusa Holding: +35.00%
• IBSE:LIDER LDR Turizm AS: +28.65%
• IDX:ENRG Energi Mega Persada: +19.67%
• SET:AOT Airports of Thailand: +19.10%
• WSE:PXM Polimex-Mostostal: +16.61%
• IDX:AUTO Astra Otoparts: +16.40%
• TSE:6723 Renesas Electronics Corp: +16.08%
• IDX:NSSS PT Nusantara Sawit Sejahtera Tbk: +15.18%
• IDX:ADMR Alamtri Minerals Indonesia: +14.68%
• TSE:285A Kioxia Holdings: +14.28%
• SGX:D01 DFI Retail Holdings: +13.39%

Among several others...

And these results are far from a one-off. This year, 68 of our 88 strategies delivered gains of more than 10%, while 52 generated returns above 20%. Even more impressive, 17 strategies produced returns exceeding 40% in 2025. The performance is consistently strong, with 71.59% of our strategies outperforming their local market indices. And all of this is currently available .

Here’s why Himax was picked before the surge:

• Dominates automotive display IC market with 50%+ share and 200+ design wins entering mass production, positioning for growth in higher-resolution displays.
• Breakthrough FrontLED micro-display for AR glasses offers ultra-high brightness in a tiny form factor, making Himax a key player in next-gen smart glasses.
• WiseEye AI technology gaining traction across multiple device categories with major tech companies adopting it.
• Co-Packaged Optics (CPO) technology on track for mass production in 2026, targeting fast-growing AI data center needs.
• Signs of automotive market bottoming with low inventories and rush orders, supporting a mild recovery in 2026.
• Strong financials with $278M cash, enabling continued R&D and shareholder returns.
• Stock up 57% over the past year, reflecting investor confidence despite recent challenges.

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At the start of each month, the AI refreshes every strategy with up to 20 new stock picks, analyzing more than 150 investor-grade financial models built on over 15 years of global market data. It identifies where risk and reward align best — removing underperformers, keeping promising names, and adding fresh opportunities.

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Disclaimer: Prices mentioned in articles are accurate at the time of publication. We regularly test different offers for our members, which may vary by region.

Investing.com -- TotalEnergies SE (EPA:TTEF) has signed an agreement to merge its U.K. operations with Repsol (BME:REP) and Hitec, creating the largest independent oil and gas producer in the United Kingdom.

Under the deal, TotalEnergies will acquire a 47.5% stake in NEO NEXT+, making it the largest shareholder. HitecVision will own 28.875% and Repsol will hold 23.625% of the combined entity.

The transaction is expected to close in the first half of 2026, pending regulatory approvals.

"The announcement reflects a continuation of the trend we’ve seen in recent years from the majors in the UK North Sea, coming on the back of Repsol’s deal in March and Shell and Equinor’s agreement in December 2024 to combine their UK offshore oil and gas assets," according to RBC analysts.

RBC added that while companies may focus on improving efficiencies and cutting costs, one potential downside is that HMRC could see lower tax receipts, as the combined group is expected to pay less than the two firms would have individually.

The merged company is projected to produce approximately 250,000 barrels of oil equivalent per day in 2026. Its portfolio will include assets such as Penguin, Mariner, Shearwater, and interests in the Elgin/Franklin complex and Alwyn North.

As part of the agreement, TotalEnergies will retain up to $2.3 billion of decommissioning liabilities related to its legacy assets. The company expects its involvement to be immediately accretive to the joint venture’s cash flow upon completion.

This deal follows the March announcement of NEO Energy’s merger with Repsol, which had a similar structure where Repsol retained $1.8 billion of funding commitments, representing 40% of decommissioning liabilities related to its legacy assets.

Prior to this new agreement, Hitec and Repsol had projected production for their joint venture would reach around 130,000 barrels of oil equivalent per day in 2025.

Investing.com -- Deutsche Bank released its 2026 sector outlook for building materials, detailing three rating changes and multiple target price adjustments across the sector.

The brokerage said it continues to favor heavy-side companies and identified Heidelberg Materials AG and Holcim as its top picks, citing resilient fundamentals and what it described as clear routes to potential outperformance. 

Jon Bell, an analyst at Deutsche Bank, said Kingspan remained the only exception to the preference for heavy-side names. “Potential upside is unlikely to match that enjoyed in the recent past,” he said in the report.

In the rating changes, Buzzi was upgraded to “buy” from “hold,” and its target price was raised to €58 from €48. 

Geberit was upgraded to “hold” from “sell,” with the target price increased to CHF558 from CHF487. Sika was downgraded to “hold” from “buy,” and its price target was cut to CHF168 from CHF237.

Amrize kept “buy” ratings on both listings, although target prices were lowered. The New York-listed shares saw the target reduced to $59 from $62, and the Swiss-listed shares to CHF47 from CHF49. 

CRH maintained “buy” ratings on both its London and New York listings, with target prices trimmed to 10389p from 10643p in London and to $139 from $140 in New York.

Heidelberg Materials stayed at “buy” with a higher price target of €267 from €229. Holcim also held a “buy” rating and its target was raised to CHF91 from CHF75. Saint-Gobain remained at “hold,” and the target price was reduced to €91 from €96.

Investing.com -- Deutsche Bank downgraded Schott Pharma to “hold” from “buy” and cut its price target to €19 from €29 after the healthcare company issued weaker guidance and trimmed its medium-term outlook. The shares last closed at €17, sending shares down over 5% on Monday.

Analyst Falko Friedrichs wrote that Schott Pharma pre-released its FY25 figures and issued new FY26 guidance late Thursday. The brokerage said the preliminary FY25 numbers suggest fourth-quarter EBITDA was 6% above consensus expectations.

However, the medium-term targets were revised lower. Schott Pharma now expects 6% to 8% constant-currency sales growth over the period, down from at least 10% previously. 

The company also projects EBITDA margin improvement toward 30%, compared with a prior aim in the low 30s.

The new FY26 guidance was characterized as the major setback. Schott Pharma forecasts 2% to 5% constant-currency sales growth and an EBITDA margin of about 27%, compared with 28.4% in FY25.

Deutsche Bank said the outlook reflects reduced demand from a key customer for glass syringes and subdued market conditions for those products. The brokerage added that it believes the customer is not related to GLP-1 treatments.

According to the brokerage, the updated view suggests about 13% downside to consensus earnings estimates and signals another transition year in FY26.

Deutsche Bank also said the sudden weakness in the glass syringes market raises concern and that visibility on recovery timing appears unclear.

Investing.com -- Morgan Stanley downgraded the Italian luxury automaker Ferrari NV (BIT:RACE) to "equal-weight" from "overweight" and cut its price target to $425 from $520, citing limited near-term upside as the company prioritizes brand preservation over volume growth.

The downgrade reflects Ferrari’s strategic decision to strictly limit production through 2030, which analyst Edouard Aubin views positively for long-term brand value but says will constrain near-term revenue expansion. 

The Maranello-based supercar manufacturer’s shares have fallen 17% year-to-date in euros, with the forward price-to-earnings ratio contracting from 46x to 38x.

"We view investor concerns as generally fair," Morgan Stanley said, pointing to three key challenges, namely, medium-term guidance below expectations, residual value pressures in secondary markets, and execution risks surrounding Ferrari’s first electric vehicle launch in late 2026.

Morgan Stanley projects fiscal 2026 constant currency sales growth of 6.4%, below the 8.2% consensus estimate, with the year proving "back-end loaded" due to model transition timing. 

The analysts forecast Ferrari will ship approximately 13,900 units in fiscal 2026, representing volume growth of just 1.5% CAGR through 2030, a sharp deceleration from the 6% posted between 2012 and 2022.

The company’s Cars and Spare Parts division, which accounts for 84% of group sales, is expected to grow just 3% in the first quarter as high-profile models including the SF90 Spider and Daytona SP3 phase out while new launches "won’t have gained full production steam until the end of the year," the brokerage said.

Ferrari’s F80 supercar, priced at €3.6 million and succeeding the LaFerrari, will ship just 170 units in fiscal 2026 according to Morgan Stanley’s estimates, ramping gradually from 5 units in fourth quarter 2025. 

The analysts project the F80 could add approximately €200 million in incremental revenue during 2026.

Morgan Stanley forecasts fiscal 2026 EBIT of €2.2 billion, approximately 4% below consensus estimates of €2.3 billion, with an EBIT margin of 29.6%. 

The analysts expect selling, general and administrative expenses to rise to 9% of revenues from 8.8%, "reflecting the costs associated with a busy product-launch cycle," while depreciation and amortization will "gradually ramp up over the course of the year, driven by the expanding product pipeline," Barclays said. 

Ferrari’s Formula 1-linked Sponsorship, Commercial and Brand division faces headwinds as the team ranks fourth in the 2025 season versus second place in 2024.

Morgan Stanley projects this division’s growth will moderate to 8% in fiscal 2026 from an estimated 24% in fiscal 2025.

The $95 price target reduction stems partially from estimate cuts, approximately 5% to fiscal 2026-2027 earnings per share, but primarily from a valuation methodology change. 

Morgan Stanley shifted from a 15-year discounted cash flow framework to a 10-year DCF with 4.5% terminal growth rate, stating this "reduces long-range forecasting uncertainty" for the luxury brand.