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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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.
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.
Copyright (c) 2018 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.