Michelin: UBS raises target price

(CercleFinance.com) - UBS reinstates its "buy" rating on Michelin shares, having increased its corresponding target price from 140 euros to 150 euros, with its new target price suggesting upside potential of 17% for the French tyre maker's stock.


The broker summarises that it perceives "strong upside risk" for the forecasts for the 2021 financial year, as it expects operating profit (EBIT) to return to 2019 levels.

Analysts also point to a "Price premium vs peers to hold for longer", and sees Michelin as "A winner in the EV shift".


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