Exane BNP Paribas
Upgrade grade
C
Downgrade grade
C
Exane BNP Paribas is the equity research and capital markets division of BNP Paribas, one of Europe's largest banking institutions, with roots tracing back to the merger of Banque Nationale de Paris and Paribas in 2000. The firm operates as a significant player in European equity research while maintaining a meaningful presence in US equity coverage, with approximately 424 analyst ratings calls on American stocks in our database. Exane is particularly well-regarded for deep expertise in European and multinational companies across consumer discretionary, industrials, technology, and luxury goods sectors, leveraging the broader BNP Paribas platform's institutional relationships. The research team has earned a reputation for rigorous, quantitative-driven analysis and distinctive contrarian perspectives, often taking detailed fundamental stances that challenge consensus views, which has made them a respected voice among portfolio managers seeking differentiated insights beyond mainstream Wall Street narratives.
Upgrades
150
70.0% win rate
· avg +1.72% D1
Downgrades
182
71.43% win rate
· avg -2.38% D1
Avg Gap — Upgrades
+1.36%
open vs prev close
Avg Gap — Downgrades
-2.26%
open vs prev close
Performance by Sector
| Sector | ↑ Win% | ↑ D1 | ↓ Win% | ↓ D1 |
|---|---|---|---|---|
| Technology | 76.67% (30) | +2.92% | 77.50% (40) | -3.33% |
| Consumer Cyclical | 57.14% (21) | +2.12% | 71.74% (46) | -3.33% |
| Basic Materials | 63.64% (22) | +0.64% | 80.00% (20) | -1.46% |
| Energy | 52.94% (17) | +1.11% | 52.94% (17) | -1.38% |
| Financial Services | 73.68% (19) | +1.47% | 92.31% (13) | -3.78% |
| Industrials | 66.67% (15) | +0.88% | 64.29% (14) | -0.95% |
| Consumer Defensive | 80.00% (10) | +1.26% | — | — |
| Healthcare | — | — | 60.00% (10) | -0.46% |
Win Rate by Year
| Year | ↑ Win% | ↑ Calls | ↓ Win% | ↓ Calls |
|---|---|---|---|---|
| 2024 | 75.0% | 20 | 78.8% | 33 |
| 2023 | 75.7% | 37 | 68.9% | 45 |
| 2022 | 52.2% | 23 | 66.7% | 18 |
| 2021 | 69.2% | 13 | 61.5% | 13 |
| 2020 | — | — | 73.7% | 19 |
| 2016 | 71.4% | 14 | 66.7% | 12 |
| 2015 | — | — | 90.9% | 11 |
| 2013 | — | — | 64.3% | 14 |
Recent Calls
| Date | Ticker | Company | Sector | Action | Grade Change | PT | Gap | D1 |
|---|---|---|---|---|---|---|---|---|
| Feb 12, 2026 | NNN | NNN REIT, Inc. | Real Estate | Maintains | Underperform → Underperform | — | +1.3% | +1.3% |
| Feb 12, 2026 | ECL | Ecolab Inc. | Basic Materials | Maintains | Outperform → Outperform | — | +0.3% | -0.9% |
| Jan 23, 2026 | WWW | Wolverine World Wide, Inc. | Consumer Cyclical | Downgrade | Outperform → Neutral | — | -3.7% | -6.5% |
| Nov 24, 2025 | META | Meta Platforms, Inc. | Communication Services | Maintains | Outperform | — | +0.8% | +3.2% |
| Sep 15, 2025 | BP | BP p.l.c. | Energy | Upgrade | Neutral → Outperform | — | +0.9% | +0.9% |
| Aug 5, 2025 | LOGI | Logitech International S.A. | Technology | Upgrade | Neutral → Outperform | — | +3.5% | +3.3% |
| Jul 31, 2025 | VFC | V.F. Corporation | Consumer Cyclical | Downgrade | Neutral → Underperform | — | -2.9% | -7.9% |
| Jul 16, 2025 | ARM | Arm Holdings plc American Depositary Shares | Technology | Upgrade | Neutral → Outperform | — | +2.9% | +4.6% |
| May 15, 2025 | SHLS | Shoals Technologies Group, Inc. | Energy | Downgrade | Neutral → Underperform | — | -21.1% | -25.0% |
| Mar 12, 2025 | MPT | Medical Properties Trust, Inc. | Financial Services | Upgrade | Neutral → Outperform | — | +3.5% | +4.7% |
| Feb 6, 2025 | ARRY | Array Technologies, Inc. | Energy | Upgrade | Underperform → Neutral | — | +4.1% | +11.7% |
| Jan 3, 2025 | UBS | UBS Group AG | Financial Services | Upgrade | Neutral → Outperform | — | +4.3% | +3.8% |
| Dec 16, 2024 | RHI | Robert Half International Inc. | Industrials | Downgrade | Outperform → Underperform | — | -2.5% | -1.3% |
| Dec 16, 2024 | EFX | Equifax Inc. | Industrials | Upgrade | Neutral → Outperform | — | +0.5% | +2.9% |
| Nov 26, 2024 | CHTR | Charter Communications, Inc. | Communication Services | Upgrade | Underperform → Neutral | — | +0.9% | +1.5% |
| Nov 20, 2024 | TOST | Toast, Inc. | Technology | Downgrade | Outperform → Neutral | — | +0.5% | +0.0% |
| Nov 20, 2024 | FIS | Fidelity National Information Services, Inc. | Technology | Downgrade | Neutral → Underperform | — | -0.7% | -0.2% |
| Nov 20, 2024 | XYZ | Block, Inc. | Technology | Downgrade | Outperform → Neutral | — | -0.5% | -2.9% |
| Oct 30, 2024 | QRVO | Qorvo, Inc. | Technology | Downgrade | Outperform → Neutral | — | -22.4% | -27.3% |
| Oct 9, 2024 | CIEN | Ciena Corporation | Technology | Downgrade | Outperform → Neutral | — | -0.5% | +3.4% |
| Oct 9, 2024 | XOM | Exxon Mobil Corporation | Energy | Downgrade | Neutral → Underperform | — | -0.9% | +0.0% |
| Sep 12, 2024 | MU | Micron Technology, Inc. | Technology | Downgrade | Outperform → Underperform | — | -3.9% | -3.8% |
| Jul 2, 2024 | MPT | Medical Properties Trust, Inc. | Financial Services | Downgrade | Outperform → Neutral | — | -1.2% | -1.5% |
| Jul 1, 2024 | ADNT | Adient plc | Consumer Cyclical | Upgrade | Underperform → Neutral | — | +2.8% | -0.2% |
| Jul 1, 2024 | MGA | Magna International Inc. | Consumer Cyclical | Upgrade | Neutral → Outperform | — | +2.0% | -0.8% |