Michelin: Stifel maintains Hold rating
(CercleFinance.com) - Stifel maintains its Hold rating on the Michelin stock, along with its target price of E32 (cp: about E29, -1.
6%).
Ahead of its meeting on Monday 13 March, Stifel remains cautious about the Michelin share.
"We expect the tire-maker to provide a heads-up on past 5-year M&A activities and put some context around the overall 2021/23 financial performance," the analyst says, who believes that management " might first be keen to draw a line behind 2023 before committing to new goals (...) unless a genuintely unexpected announcement is made".
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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.
6%).
Ahead of its meeting on Monday 13 March, Stifel remains cautious about the Michelin share.
"We expect the tire-maker to provide a heads-up on past 5-year M&A activities and put some context around the overall 2021/23 financial performance," the analyst says, who believes that management " might first be keen to draw a line behind 2023 before committing to new goals (...) unless a genuintely unexpected announcement is made".
Copyright (c) 2023 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.