Michelin: Oddo maintains buy rating
(CercleFinance.com) - Oddo maintains its outperform rating on Michelin shares, with an unchanged target price of 35 euros.
During a virtual CMD to review its 2030 strategy, management confirmed its targets, sayng that it is well on track to achieve them, Oddo reports.
This enabled the group to confirm its positioning and strategy, as well as reviewing the M&A policy that it intends to pursue, while maintaining its leadership in tyres.
Analysts maintain their Outperform rating, judging Michelin's positioning as attractive in the current environment (value focus, technological leadership, sustainable development approach) but also beyond tyres with a relevant growth strategy (taking advantage of this technological positioning to grow in other markets), the analyst concludes.
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.
During a virtual CMD to review its 2030 strategy, management confirmed its targets, sayng that it is well on track to achieve them, Oddo reports.
This enabled the group to confirm its positioning and strategy, as well as reviewing the M&A policy that it intends to pursue, while maintaining its leadership in tyres.
Analysts maintain their Outperform rating, judging Michelin's positioning as attractive in the current environment (value focus, technological leadership, sustainable development approach) but also beyond tyres with a relevant growth strategy (taking advantage of this technological positioning to grow in other markets), the analyst concludes.
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.