Investor Channel is the communication channel between Pirelli and the financial community. Analysts, shareholders and web users can use the channel for direct dialogue with the Group. The blog is moderated by Pirelli Investor Relations.

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Main stocks markets (Milan -3.5%, London -3.3%, Frankfurt -4.2%, Paris -4.8%) kept being influenced by uncertainties over the macro situation and the Euro area during the week from the 14th to 18th of November.
Strong sales over the auto&parts sector (-8.0%), after the recent market trends (-1.4% the car registrations in Europe, car sales down in China, tyre truck volumes down in Europe and North America).
Pirelli closed the week at €6.695 (-6.5%), outperforming the auto&parts sector (+1.5pp) and its main peers (+3.9pp vs Michelin, +1.1pp vs Continental, +5.2 vs Nokian). Two upgrades on the stock: Cheuvreux (€8.9 from €8.2) and Citi (€8.5 from €8.0). According to Cheuvreux, Pirelli targets are ambitious but doable, thanks to a clear focus on Premium and the continous search for internal efficiencies. The broker estimates are set towards the higher end of the guidance. Further stock upside is linked to a re-rating of the sector.
The average consensus Target Price is €8.23€ with BUY recommendations from 92% of brokers.

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