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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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PEERS & MARKETS

peers&markest7-11.12.09Profit taking on the major international stockmarkets in the week 7-11 December 2009, with sharp losses, particularly in financial securities.
Pirelli & C fell 0.8% to close at 0.429€; with Michelin, the company outperformed the European Auto&Parts sector as a whole (+1pp vs DJ Stoxx Auto).
The analysts’ average valuation of Pirelli was 0.46€, with a BUY recommendation from most (71%) of the coverage, represented by 18 investment banks, with 29% recommending Hold and 0% Sell.
Pirelli RE shares also outperformed their sector average, despite falling 2.1% during the week to close at 0.501 (+2pp vs the Epra Europe Index).

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PEERS & MARKETS

PEERS&MARKETS23.11-27.11Pirelli ended the week of November 23-27, among top securities of the Auto & Parts sector. Not only did the stock outperformed the European reference index (+3.4 percentage points), but it also outperformed the Italian blue ships index (+3.6 percentage points) ending the week at € 0.417, a 2.2% increase in a broad market sell-off in all sectors. Several brokers raised their views on the stock, based on the operating performance of Pirelli Tyre in the third quarter 2009, cutting back the holding discount on P&C in view of a greater focus of Pirelli in the core business. Recent upgrades include Morgan Stanley (Buy rating, TP €0.52), Equita (Buy rating, TP €0.51), Cheuvreux  (Outperform rating, TP €0.49), UBS (buy rating, TP € 0.48) and Goldman Sachs (Neutral rating at €0.50). The average target price on Pirelli settles at €0.46; a buy recommendation prevails on the coverage made by 18 business banks.
Pirelli RE ends the week with a negative 2.7% in the Italian real estate sector, clearly in decline (Aedes -6.6%, Bastogi -8.4%, Risanamento -2.6%); Beni Stabili and IGD were the only stocks that closed the week against the market trend.

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PEERS & MARKETS

Peers & markets 12-16.10.09The auto sector showed a positive trend for the week of October 12 – 16 with Pirelli among the best performers (with a 5.5% increase at 0.42 per share compared to the 2.6% increase of the DJ Stoxx Auto index).  Morgan Stanley initiated coverage on Pirelli (“Maestro of Tyres from Italy to Brazil“) with an “Overweight” recommendation and target price of €0.45. There are several factors that make the stock attractive: guidance on the sustainability of the industrial plan does not completely reflect consensus forecasts, the presence in high-growth markets like in Brazil and reduced risks linked with Pirelli Real Estate after its increase in share capital.
Banca Aletti also gave a positive recommendation on the stock, publishing the first report on Pirelli this week with an Outperform recommendation and target price of €0.48.
Average ratings of stock analysts on Pirelli settle at €0.39; a “BUY” rating prevailing on coverage made by 18 business banks. 
The week also ended in positive territory for the European tyre sector with a 4.5% increase for Michelin and 3.9% for Continental.
Pirelli RE ends the week at € 0.665, a 1.7% decline, however outperforming companies from the Italian real estate sector (Gabetti -7.1%, Aedes -6.4%, IGD +9.3%, Risanamento +2.9%).

For more in-depth information please follow the link to: Investors > Peers & Markets.


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