(CercleFinance.com) – Oddo BHF maintains its ‘outperform’ rating on the Michelin share with a price target raised from 38 to 40 euros.
The analyst reports that Michelin management anticipates a stable market scenario in the middle of the range (-2%/+2% on the three segments), which suggests slightly declining volumes, Michelin expects -2/0 % when Oddo BHF bets on -0.5%.
Oddo BHF indicates that Michelin remains among its Top Picks in the sector and emphasizes that despite the stock’s already good performance since the start of the year (+9%), the valuation remains attractive, especially as the emphasis is now more on shareholder returns.
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