Michelin: price target lowered by Barclays
(CercleFinance.com) - Barclays confirms its 'Underweight' recommendation on Michelin shares, while trimming its target price for them from E32 to E31, the day after the tire maker reported lower-than-expected third-quarter sales.
In the absence of an expected recovery in SR3 or original equipment, a worse-than-feared market reset of expectations is now at stake for Michelin, not only for this year, but also for 2025/26, the broker warns.
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The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
In the absence of an expected recovery in SR3 or original equipment, a worse-than-feared market reset of expectations is now at stake for Michelin, not only for this year, but also for 2025/26, the broker warns.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.