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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Major European stocks closed down the week from December 2nd to 6th (Milan -4.7%, London -1.5%, Frankfurt -2.5%, Paris -3.9%, Madrid -4.4%). The ECB kept interest rates at 0.25% (the record low); brokers already discounted the decision, and were expecting additional stimulus for the European economy.
Pirelli sets aside the week at €11.18 (-1.4%), with 1.6 million stocks exchanged on average. Exane re-initiated coverage on the stock with Buy rating and €14.5 TP (+30% vs Friday close). Thanks to a strong exposure to the high-range (40% of sales) Pirelli together with other players will benefit the strong growth of Premium tyres (CAGR 2013-2018 +15%) impacting revenues (+9% p.a. between 2013-2016) and earnings (15.4% EBIT margin). According to the broker, Pirelli will beat market estimates and bring results better than the Industrial Plan targets.
Consensus Target Price taking into account the 17 most recent publications stood at €12.18 with with 88% of the coverage with positive recommendations (Buy + Hold rating).

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