Michelin: Barclays cuts TP

(CercleFinance.com) - Barclays confirms its "underweight" recommendation on Michelin shares, with a target price lowered from E33 to E32, believing that the risks of disappointment clearly increase over H2 2024 and into 2025.


Volumes are under increasing pressure and its superior pricing power looks increasingly challenged by low customer acceptance and a high price premium relative to peers, the broker warns.


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