Pirelli: UBS raises price target

(CercleFinance.com) - UBS has confirmed its 'buy' recommendation on Pirelli shares, raising its target price for them from E6.
2 to E7. Its new target price implies 15% upside potential for the Italian group's shares, its favorite amongst tyre manufacturers.

Q1 performance, which is first-rate within the sector, should lead to an 'upside risk' in earnings, the broker says, which also highlights deleveraging "well on track" in its summary.


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