Michelin: price target lowered by Barclays

(CercleFinance.com) - Barclays confirms its 'Underweight' recommendation on Michelin shares, while trimming its target price for them from E32 to E31, the day after the tire maker reported lower-than-expected third-quarter sales.


In the absence of an expected recovery in SR3 or original equipment, a worse-than-feared market reset of expectations is now at stake for Michelin, not only for this year, but also for 2025/26, the broker warns.


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