“The Week”: The rotation continues

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  François Bloch
  Experte

Switzerland

Finally, the signs are pointing to green in 2026 for shares of Swiss real estate developer Swiss Prime Site (Ticker: SPSN SW) on the Swiss stock exchange: up 7.39% since the turn of the year. Step by step, the financial metrics of the CHF 10.61 billion stock continue to improve. According to the underlying models, book value per share could improve from CHF 85.21 to CHF 97.19 between 2023 and 2028, at a share price of CHF 132.30 (closing price: Friday evening). An annual reinvestment of the dividend into new shares would be worth considering.
Trading strategy: Reload

Shares of SPI index stock Clariant (Ticker: CLN SW) are moving up extremely strongly: up 49.44% since the turn of the year, with no end to the significant upward movement in sight for the time being. Book value per share could rise from CHF 6.104 to CHF 7.059 between 2023 and 2028. The dividend payout could increase from CHF 0.42 to CHF 0.48 over the same period, which could sustainably improve returns for years to come, provided the dividend is reinvested into new shares.
Trading strategy: Reload

Thanks to a significantly improved focus on its core business, Central Swiss dairy producer Emmi (Ticker: EMMN SW) is showing its best side, after the stock had not gained traction for a long time. Earnings per share could improve from CHF 34.82 to CHF 52.38 between 2023 and 2028, which would consolidate the positive trend over the years in the longer term. The EBIT margin of 7.7% in 2028 would be a positive note and strong for this stock.
Trading strategy: Reload

Investors are once again gaining confidence in shares of Central Swiss SMI stock Sika (Ticker: SIKN SW), a development attributed to the very strong leadership of the current CEO and crowned with great success so far, after the shares had temporarily come under heavy pressure. Operating income (EBIT) could rise from CHF 1.549 billion to CHF 2.005 billion between 2023 and 2028, with an annual reinvestment of the dividend into new shares worth considering, provided book value improves each year over the previous period.
Trading strategy: Reload

The express train for shares of SPI stock Banque Cantonale Vaudoise (Ticker: BCVN SW) has really picked up speed in recent months: up 36.25% since the turn of the year. The background would be a marked improvement in the expected book value per share from CHF 44.9 to CHF 49.11 between 2023 and 2028, which would make the share price development of recent months at this CHF 11.75 billion stock considerably more comprehensible. The expected dividend yield of 3.36% in 2027 is a highlight.
Trading strategy: Reload

The shackles have been released from shares of Liechtenstein-based Liechtensteinische Landesbank (Ticker: LLBN SW): up 40.10% since the turn of the year. Book value per share could grow from CHF 69.62 to CHF 87.25 between 2023 and 2028, which would make the stock’s upward momentum considerably more explicable. The possible development of the dividend per share between 2023 and 2029, from CHF 2.7 to CHF 3.7, deserves special mention and would be remarkable.
Trading strategy: Reload

Full speed ahead for SMI index stock Givaudan (Ticker: GIVN SW): up 28.86% since the turn of the year. According to the quantitative models, operating income could improve from USD 1.116 billion to a new record high of USD 1.665 billion between 2023 and 2028, which would be remarkable given the current market environment. The growing dividend payout per share of CHF 68 to CHF 78.88 could be reinvested annually over this period in order to benefit fully from the upswing.
Trading strategy: Reload

Hearing aid manufacturer Sonova (Ticker: SOON SW) has been impressive for some time: up 39.06% since the turn of the year. An improvement in book value per share is projected for the period between 2023 and 2028, from CHF 41.44 to CHF 60.86. With an expected return on equity of 25.15% by 2028, a position would be worth considering.
Trading strategy: Reload

Europe

The turbo has now been switched on for shares of German chemicals stock Bayer (Ticker: BAYN GY): since the start of the year, the stock has risen 50.18%, an extraordinary result by European standards. According to the latest analyses, earnings per share could improve from EUR -2.99 to EUR 3.654 between 2023 and 2028, which would be highly significant. Dividend per share could also jump from EUR 0.11 to EUR 0.99 over the same period, which would make an investment considerably more attractive going forward.
Trading strategy: Reload

The long-term price development of Portuguese power producer EDP Renewables (Ticker: EDPR PL) can be described as strong: despite a gain of 20.35% since the turn of the year, the stock is still considered promising. Book value per share could rise from EUR 10.8 to EUR 11.7 between 2023 and 2028. Earnings per share could improve from EUR 0.31 to EUR 0.57 over the same period, which would be extraordinary in an international sector comparison.
Trading strategy: Reload

The comeback is back for French top stock BNP Paribas (Ticker: BNP FP). Book value per share could improve from EUR 96 to EUR 125.80 between 2023 and 2028. The expected record EBIT margin would stand at 43.91% in 2028, which would be very good for the company by historical comparison. A reinvestment of the dividend into new shares would also be worth considering, given that this strategy has proven very successful for this stock over a period of 5 years. Possible development of the dividend per share between 2023 and 2028: from EUR 4.6 to EUR 7.51. The annual return already stands at +13.79% in 2026 alone.
Trading strategy: Reload

Shares of Italy-based innovative automaker Ferrari (Ticker: RACE IM) continue to trend steadily upward on the stock market: up 17.30% since the turn of the year. An increase in earnings per share is projected between 2023 and 2028, from EUR 6.9 to EUR 12.11. For 2028, a record EBIT margin of over 31.02% is targeted. Persistence over the years would be required at this EUR 71.74 billion stock.
Trading strategy: Reload

French insurance stock AXA (Ticker: CS FP) is well positioned: up 9.08% since the turn of the year. Earnings per share could grow from EUR 22.70 to EUR 25.98 between 2023 and 2028. Return on equity would stand at 18.4%, which would be new record territory for this EUR 90.4 billion stock. Dividend per share could increase from EUR 1.98 to EUR 2.909 over the same period.
Trading strategy: Reload

Shares of Spanish airport operator Aena (Ticker: AENA SM) are considered very attractive, with high hopes that the upward trend will continue through the end of 2028. Book value per share at this EUR 42.42 billion stock could rise from EUR 5.085 to EUR 7.367 between 2023 and 2028, which would be significant.
Trading strategy: Reload

US/CAN

Gold stock AngloGold Ashanti (Ticker: AU US) is considered a stock with major potential. Book value per share could improve from USD 8.841 to USD 31.8 between 2023 and 2028, which would be enormous for this USD 47.04 billion stock.
Trading strategy: Reload

Ambitious investors are backing rental specialist Airbnb (Ticker: ABNB US). At this top-class USD 112 billion stock, book value per share could increase from USD 12.33 to USD 26.07 between 2023 and 2028. With an EBIT margin of 25.85% in 2028, the future would look reassuring.
Trading strategy: Reload

Long-standing top favorite Jazz Pharmaceuticals (Ticker: JAZZ US) presents a very strong picture on the stock market. Book value per share could grow from USD 60.03 to USD 119.9 between 2023 and 2028, which would be extraordinary.
Trading strategy: Reload

Shares of pharmaceutical products specialist McKesson (Ticker: MCK US) have taken off on the stock market this year. An increase in operating income from USD 4.901 billion to USD 8.498 billion is expected between 2023 and 2028. The EBIT margin could reach a new record of 1.71% in 2028, which would be a very good figure for this sector. The stock has already gained +29.32% over the course of the year.
Trading strategy: Reload

Wall Street high-flyer ATI (Ticker: ATI US) is currently considered strong. Operating income could rise from USD 488.5 million to USD 1.433 billion between 2023 and 2028, which would underpin the company’s successful strategic direction. However, no dividend is expected at this growth-oriented USD 23.88 billion stock.
Trading strategy: Reload

Shares of US energy stock Dominion Energy (Ticker: D US) are described as a top-class gem. Book value per share at this USD 60.34 billion stock could rise from USD 32.91 to USD 41.99 between 2023 and 2028. Earnings per share could increase from USD 2.29 to USD 4.082 over the same period, with the overall picture appearing compelling – a top-class Hidden Champion for years to come.
Trading strategy: Reload

Yours sincerely,
François Bloch

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“Bloch live” is taking a break

Due to holiday absences, “Bloch live” will be off air until the end of November. The next episode will be released on Monday, 30 November, featuring a lively conversation between two experts, engaging topics and clear opinions.

See you then!

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Disclaimer
Lucht Probst Associates AG and François Bloch do not receive any payments or commissions from the products mentioned.