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Pirelli: Morgan Stanley maintains 'overweight' rating

(CercleFinance.com) - Morgan Stanley has reinstated its "overweight" rating on the Pirelli stock, along with its target price of 7.
5 euros, with the Italian tyre maker replacing its bank debt with much cheaper bonds.

The broker sees upside potential in Pirelli's 2018 estimates after 2017 results that will be unveiled on 24 February.

"With EPS growth well over 20% and a strong fundamental story on premium tires, we think the high valuation is justified," the broker adds.

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