Michelin: Bryan Garnier maintains 'buy' rating
(CercleFinance.com) - Bryan Garnier has reinstated its "buy" rating on the Michelin stock, along with its fair value of 142 euros, remaining convinced that 2018 could be a record year for the group both in terms of its EBIT and EBIT margin.
The broker highlights upside potential in the current consensus for sales and EBIT after the recent appreciation of the dollar and the fact that its acquisition Fenner has not yet been fully integrated into the share's price.
Therefore, after reviewing the tyre manufacturer (which remains one of its top picks), the broker now expects a 3% increase in the consensus for operating profit (EBIT) and EPS for 2018.
Copyright (c) 2018 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 broker highlights upside potential in the current consensus for sales and EBIT after the recent appreciation of the dollar and the fact that its acquisition Fenner has not yet been fully integrated into the share's price.
Therefore, after reviewing the tyre manufacturer (which remains one of its top picks), the broker now expects a 3% increase in the consensus for operating profit (EBIT) and EPS for 2018.
Copyright (c) 2018 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.