UBS is less optimistic about the stock and is readjusting downwards his opinion. The broker's analyst David Lesne is now Neutral. Previously set at EUR 33, the target price is lowered to EUR 30.
Compagnie Générale des Etablissements Michelin is one of the world leaders in manufacturing and marketing of tires. Net sales break down by activity as follows:
- sale and distribution of tires (83%): mainly replacement tires (37% of net sales), long-distance transport tires (20%), specialty tires (17%; for agricultural and civil engineering machinery, aircraft, etc.) and original equipment tires for passenger cars and two-wheels (9%);
- development of connected solutions (12%): offers adapted to the new economic, human and environmental challenges of fleet managers and other public or private mobility players, offers to accompany travel and journeys (Michelin and Robert Parker gastronomic guides, tourist guides and applications such as ViaMichelin);
- development of polymer composite solutions (5%): high-tech solutions in the fields of seals, belts and technical fabrics, developed thanks to Michelin's unique expertise in the physics and chemistry of materials, and aimed at a variety of sectors such as mobility, construction, aeronautics, low-carbon energies and healthcare.
Net sales are distributed geographically as follows: France (9.5%), Europe (26.5%), North America (38.6%) and other (25.4%).
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Investor
Investor
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Global
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