Michelin: Oddo BHF cuts target price

(CercleFinance.com) - An analyst at Oddo BHF this morning said that he is cutting his target price for the Michelin share, while maintaining a buy rating on it, with French tyre maker having abandoned its previous targets yesterday evening due to the impact of the coronavirus.


Although unfortunately it is still too early to say that the worst is behind us and that the Michelin share has already bottomed out, the high operational and financial resilience that emerges through our new scenario confirms our idea that Michelin stands out in its sector, which the share does not currently seem to price in, the broker says.

Oddo BHF has therefore cut its corresponding target price from 115 euros to 100 euros, which still means upside potential of 40%.


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