This analysis was developed by TEC and distributed by BOURSORAMA on 07/20/2026 at 08:39:00.
Acting solely as a distribution channel, BOURSORAMA was in no way involved in its development and did not exercise any discretionary power regarding its selection. The information contained in this analysis has been recorded “as is”, without any representations or warranties. The opinions or assessments expressed herein are those of the authors and do not necessarily reflect the views of BOURSORAMA. In accordance with applicable law, neither the information contained therein nor the analysis carried out therein can give rise to liability for BOURSORAMA. The content of the analysis provided by BOURSORAMA is provided for informational purposes only and has no contractual value. Thus, it provides a simple decision-making tool over which the user retains absolute control.
BOURSORAMA is a credit institution under French law, approved by the Authority for Prudential Regulation and Resolution (“ACPR”) and the Authority for Financial Markets (“AMF”) as an investment service provider and subject to the prudential supervision of the European Central Bank (“ECB”).
In accordance with applicable regulations, BOURSORAMA establishes and maintains a conflict of interest management policy and takes administrative and organizational measures to prevent, identify and manage situations of conflict of interest in relation to the investment advice disseminated. These rules include, in particular, provisions regarding personal financial transactions to ensure that BOURSORAMA employees are not subject to a conflict of interest when Boursorama disseminates investment advice.
The reader is advised that BOURSORAMA has no conflict of interest that could affect the objectivity of the analysis disseminated. The reader is therefore advised that there is no direct link between the analytical data disseminated and the variable remuneration of BOURSORAMA employees. Likewise, there are no financial or capital ties between BOURSORAMA and the issuers concerned, other than contractual obligations that may govern the provision of broadcasting services.
Please note that entities of the Société Générale group, to which BOURSORAMA belongs, may engage in transactions in the financial instruments mentioned in this analysis, hold shares in the companies that issue these financial instruments, act as a market maker, advisor, broker or banker for these instruments, or be represented on the board of directors of these companies. These circumstances cannot in any way affect the objectivity of the analysis disseminated by BOURSORAMA.