Michelin: Bryan Garnier raises target price
(CercleFinance.com) - An analyst at Bryan Garnier today said that he is confirming his “Buy” rating on the Michelin share, the day after the group announced the acquisition of Camso, a Canadian supplier of off-the-road tyres, for a total of 1.
4 billion dollars.
The broker is revising its estimates to include all new details, which have led to a 4% increase in its 2019 EPS estimate. Analysts have confirmed their Buy rating on the Michelin stock, which, with the acquisitions of Fenner and Camso, aims to become a more industrial group, which stimulates margins. Bryan Garnier says that this is indeed "Positive".
The analyst has also raised his fair value for the share from 142 euros to 146 euros.
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.
4 billion dollars.
The broker is revising its estimates to include all new details, which have led to a 4% increase in its 2019 EPS estimate. Analysts have confirmed their Buy rating on the Michelin stock, which, with the acquisitions of Fenner and Camso, aims to become a more industrial group, which stimulates margins. Bryan Garnier says that this is indeed "Positive".
The analyst has also raised his fair value for the share from 142 euros to 146 euros.
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.