Oddo BHF
ODDO BHF is an independent Franco-German financial group headquartered in Paris, about 90% owned by the Oddo family and its employees. Its pan-European equity brokerage covers about 800 stocks and ranked second among European country brokers in Extel's 2025 survey.
Activity24M
RatingsPrice targetsKey figures
- Stocks covered
- 2912M
- Actions
- 3012M
- Ratings / Price targets
- 28 / 2
- Upgrades / Downgrades
- 13 / 12
- Initiations
- 3
- Buy-rated
- 50%of 28 rated
- Median upside
- +44.5%
- On record
- Jun 2021 – Sep 2026
Overview
As of 2026, ODDO BHF's equity research serves more than 700 institutional clients. In Extel's 2025 survey, it ranked second among European country brokers behind Kepler Cheuvreux and first in France, Benelux and Austria. The firm has expanded by integrating partner banks' research and trading operations into its platform. In 2025, head of equities Matthias Desmarais described MiFID II's separation of research and trading fees as a fundamental change to the equity brokerage business.
The group traces its roots to 1849, when Camille Gautier became a stockbroker in Marseille; his great-grandson Bernard Oddo founded his own brokerage in 1971, which grew into Oddo & Cie through acquisitions. Oddo bought Close Brothers Seydler and Meriten Investment Management in 2015 and BHF-BANK in 2016, renaming itself ODDO BHF in 2017. In 2018 it took over Natixis's French equity research and brokerage, and in 2020–2023 it signed brokerage partnerships with ABN AMRO, BBVA, Commerzbank and RBI.
Milestones
- 1849
Camille Gautier becomes a stockbroker in Marseille
- 1971
Bernard Oddo founds his own brokerage firm
- 2015
Acquires Close Brothers Seydler and Meriten Investment Management
- 2016
Acquires Germany's BHF-BANK
- 2017
Group renamed ODDO BHF
- 2018
Takes over Natixis's French equity research and brokerage
Firm facts
- Legal name
- ODDO BHF SCA
- Type
- Full-service
- Founded
- 1849
- Headquarters
- Paris, France
- Managing Partner and CEO
- Philippe Oddo
- Rating scale
- OutperformNeutralUnderperform12 months
- Website
- oddo-bhf.com
Research philosophy
With a strong sector-specific expertise and a pan European Small & Midcap approach, our research is both independent and of high quality.
ODDO BHF says it builds ESG criteria into its equity analysis using its own methodology. Its 2025 activity report states that the group invests alongside clients, calling alignment of interests the best basis for independent advice.
Rating methodology
Stocks are rated Outperform, Neutral or Underperform on expected performance relative to a benchmark index over 12 months.
Coverage12M
Sectors
Most covered24M
| Stock | Rating | Target |
|---|---|---|
| ARARHOF | Neutral | $12 |
| ALALEGF | Outperform | — |
| ALALORY | Neutral | — |
 Arm Holdings plc American Depositary SharesARM | — | $170 |
| ASASAAF | Outperform | — |
| AVAVHNF | Neutral | — |
| CDCDNIF | Neutral | — |
| CSCSNVY | Neutral | — |
| CTCTTAY | Outperform | — |
| EBEBKDY | Outperform | — |
Most active analysts
- Stephanie Houri1 notesARM
Recent actions
| Date | Stock | Rating action | Rating | Target |
|---|---|---|---|---|
| Sep 18 | IFIFNNY | Upgrade | Neutral →Outperform | |
| Sep 16 | SFSFSHF | Downgrade | Outperform →Neutral | |
| Sep 10 | GAGASNY | Upgrade | Outperform | |
| Sep 9 | OTOTPBF | Upgrade | Outperform | |
| Sep 7 | AVAVHNF | Downgrade | Neutral | |
| Sep 4 | PRPRYMY | Upgrade | Outperform | |
| Sep 4 | ASASAAF | Upgrade | Neutral →Outperform | |
| Sep 3 | CTCTTAY | Upgrade | Neutral →Outperform | |
| Sep 3 | SLSLOIY | Upgrade | Neutral →Outperform | |
| Aug 26 | TCTCHBF | Downgrade | Neutral | |
| Aug 20 | ARARHOF | Downgrade | Neutral | $12 |