European Week Ahead: 25th May – 29th May and beyond

研报英文原文证据摘录

European Week Ahead: 25th May – 29th May and beyond

Equity Research

21 May 2026

European Week Ahead

25th May – 29th May and beyond

We focus on 12 previews, of which 6 appear on our Watch List.

Capgemini will host a CMD on 27 May. We see the CMD as  Euro Week Ahead 25 May - European Equity Product Management

an opportunity for the management team to reassure the 29 May 2026 Group

market that it is repositioning the business for AI. We Rob Bate*

expect management to articulate how AI is already +44 (0)20 7773 3576

embedded across the service portfolio and delivery model rob.bate@barclays.com

and frame AI as a multi-year growth driver, accelerating demand not only for core digital Barclays, UK

transformations and legacy modernisation (required to fully leverage AI at scale), but also for Lindsay Sedola*

incremental, AI-specific automation and agentic projects layered on top that address business +44 (0)20 7773 0474

automation holistically, expanding addressable budgets beyond just IT services and reinforcing lindsay.sedola@barclays.com

Cap’s strategic repositioning. (Capgemini: Upside to FY guide; supportive feedback from CEO Barclays, UK

fireside chat, 1 May 2026) Anna Woodcock*

+44 (0)20 7773 3935

Further out, Schindler will host a CMD on 3 June. We view SCHP's underperformance ytd as an anna.woodcock@barclays.com

attractive entry point, given: 1) some top-line growth acceleration; 2) inexpensive valuation Barclays, UK

(10-20% discount to sector and history); 3) now the only 'elevator' investment case in Europe

(after Kone's case completely changed, following TKE deal announcement), 4) CMD in June

likely providing above-consensus margin target and potentially accelerating shareholder

distribution.