Michelin: Oddo hails 'an enviable serenity'
(CercleFinance.com) - In the wake of a publication that was marked by H2 2018 results that are "better than expected," an analyst at Oddo BHF says that he is maintaining his "buy" rating on the Michelin stock, believing that after a caution period in Q3, the automotive supplier is making room for optimism.
While Michelin has positively surprised, as the broker says, in a complicated context for the automotive market at the end of 2018, this is particularly thanks to better than expected volumes in December and an acceleration in gains in terms of competitiveness. All with this comes with a product mix that remains solid and a price "on which management has been very clear with an aim to remaining disciplined.
Finally, reporting a 2019 guidance that is better than expected, Oddo BHF has set a target price of 130 euros for the share, suggesting upside potential of 43%.
Copyright (c) 2019 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.
While Michelin has positively surprised, as the broker says, in a complicated context for the automotive market at the end of 2018, this is particularly thanks to better than expected volumes in December and an acceleration in gains in terms of competitiveness. All with this comes with a product mix that remains solid and a price "on which management has been very clear with an aim to remaining disciplined.
Finally, reporting a 2019 guidance that is better than expected, Oddo BHF has set a target price of 130 euros for the share, suggesting upside potential of 43%.
Copyright (c) 2019 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.