Michelin: Invest Securities still a seller
(CercleFinance.com) - In a report released on Wednesday, Invest Securities renewed its "sell" rating on the Michelin stock, along with its target price of 117 euros.
The stock still has downside potential, the broker summed up, with its target price also impacted by the group's net debt.
Regarding the integration of Fenner Plc's 2 businesses, this deal "marks a new stage in the group's external growth strategy, targeting occupations that correspond to a diversification towards "Non-Tyre Rubber Businesses" similar to ContiTech at "Continental" the broker commented.
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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.
The stock still has downside potential, the broker summed up, with its target price also impacted by the group's net debt.
Regarding the integration of Fenner Plc's 2 businesses, this deal "marks a new stage in the group's external growth strategy, targeting occupations that correspond to a diversification towards "Non-Tyre Rubber Businesses" similar to ContiTech at "Continental" the broker commented.
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.