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You are here: Home1 / News2 / Product News3 / Michelin Share Price Increase

Michelin Share Price Increase

Date: 17th February 2005 Author: Tyrepress Editors Comments: 0

Deutsche Bank analysts are expecting the price of Michelin shares to increase by over 20 per cent from their current value of 53 euros per share to 65 euros. The estimate follows Michelin’s recent financial activities such as its investment in Poland, its Q4 results and its announcement that it is disposing of its wheel business. These signals “show the management commitment to turnaround this business unit,” wrote Deutsche Bank.

“In our view this shows a great consistency with the management strategy and reinforces our confidence in the capability of Michelin to reach their mid-cycle target of 10 per cent as early as 2006,” it estimated. This translates into 6.5 euros EPS.

However a risk lies in further strong increases in raw material prices which Deutsche Bank fears will not be able to be passed on to the customer.

Related news:

  1. Hankook Profits Fall 16 per cent
  2. Analysts “Still Cautious” on Cooper Shares
  3. Michelin Achieves Profit Growth Through Price Rises
  4. Pirelli Group Reorganises its Finances
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analysts, Deutsche Bank, financials, Michelin, prices, shares

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