Michelin: UBS raises target price
(CercleFinance.com) - UBS reinstates its "buy" rating on the Michelin stock, having increased
its corresponding target price from 120 euros to 124 euros, which
suggests upside potential of 19% for the French tyre maker's share.
"ML is our tyre (ed.) maker top pick" the broker says ahead of the
upcoming CMD, highlighting "strong EBIT growth, best-in-class FCF and NT
catalyst".
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.
its corresponding target price from 120 euros to 124 euros, which
suggests upside potential of 19% for the French tyre maker's share.
"ML is our tyre (ed.) maker top pick" the broker says ahead of the
upcoming CMD, highlighting "strong EBIT growth, best-in-class FCF and NT
catalyst".
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.