Michelin: Barclays lowers its target price

(CercleFinance.com) - Barclays reaffirms its 'underweight' recommendation on Michelin with a price target lowered from 33 to 32 euros, believing that 'the risks of disappointment are clearly increasing over the second half of 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 over peers', warns the broker.

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