Michelin: Oddo BHF a buyer - raises target price
(CercleFinance.com) - On Tuesday morning, an Oddo BHF analyst confirmed a "Buy" recommendation on the Michelin stock, while raising his corresponding target price.
The broker has therefore raised its target price from 105 euros to 110 euros, after what it calls "solid" results and a cautious guidance... which is often the case.
Over the year, the guidance should not lead to any revisions of the consensus and must, in our opinion, be considered as a floor in the face of a volume environment that remains very uncertain, the broker explained.
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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 broker has therefore raised its target price from 105 euros to 110 euros, after what it calls "solid" results and a cautious guidance... which is often the case.
Over the year, the guidance should not lead to any revisions of the consensus and must, in our opinion, be considered as a floor in the face of a volume environment that remains very uncertain, the broker explained.
Copyright (c) 2020 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.