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.

PEERS & MARKETS

Uncertain week for the Milan Stock Market (-0.1%) due to threats on financial institutions in view of the implementation of the Basel 3 requirements (-1% banking Stoxx Index). Following the announcement of the UBI Bank to increase capital by Euro 1 billion to strengthen its own capital structure, the market fears that other national institutions may be forced to recapitalise. Data on inflation in the Euro zone for March also contributes to the negative sentiment (+2.6% all time high since October 2008) which confirms the expectations of an increase in short-term interests.
Pirelli ends the week mainly unchanged at €6.245.
New coverage initiated on the stock by the Swiss broker, Sarasin, with a Buy recommendation based on the premium focus strategy and the geographical position.
The consensus target price settled at € 7.52 for Pirelli, whereas a Buy recommendation prevails on coverage made by 23 analysts (77%).

Tags: , ,

Categories: Peers & Markets


Write a comment »

PEERS & MARKETS

Little change on international markets in the week from 13 to 17 September (Milan +0.9%, London +1.4%, Paris +1.5%, Frankfurt +1.3%) after the positive performance of recent weeks. The sectors that saw the strongest rises were Retail (European reference index +2.7%) and Auto (+2%).
Pirelli closed the week at €5.82, a rise of 3.1%. The share price was buoyed by the announcement of the latest price increase in Europe for the entire product range, reflecting solid price discipline in the industry.  Of note was Intermonte’s upgrading of Pirelli, increasing the TP to €7 (from €6.1) with an Outperform recommendation. Upside drivers included the improved visibility of the company on the tyre market thanks to the recovery in demand, particularly in emerging markets, and the announced increase in production capacity (+20% over the next 3 years). The Consensus TP is now  €6.24 (with Buy recommendations from 83% of the coverage). Pirelli again confirmed its status as the best share in the FTSE Mib basket, with a relative performance 37 percentage points higher than the Milan blue chip list.
Pirelli RE shares continued to rise, outperforming (+11%) both the European Real Estate index (+10pp) and its Italian peers.

Tags: , ,

Categories: Peers & Markets Pirelli Pirelli RE


Write a comment »

PEERS & MARKETS

The week from 30 August to 3 September was distinguished by the marked upturn on all the European markets. (Milano +4.1%, London +5.3%, Paris +4.7%, Frankfurt +3.1%). The macroeconomic news from the US contributed to this positive mood, which boosted demand over the week (the US manufacturing index was higher than in July, consumer confidence is recovering, job losses falling, and there was a slight recovery in the property market and house prices).
At sector level, the demand was primarily focussed on the auto industry (+6.4%), perceived as good at the moment after Daimler’s August results (Mercedes-Benz shares rose for the tenth consecutive month  to +19%, and the week’s performance was +8.5%).
The trend in European tyre shares was positive, rising over 3 percentage points, supported by recently published market data. According to Morgan Stanley, the recently announced price increases and market trends show that the tyre market will continue to perform well: double digit growth in volumes in July in the truck segment, while Mercosur continued to be the market with the highest growth: +13% for replacement car & light vehicle; +57% the truck OE.
Pirelli closed the week at 5.47€ a rise of 3.7% , with a YTD performance of +18.4% (FTSE Mib -11.2% YTD) further confirmation of its status as best performer in the FTSE Mib basket since the start of the year  (+29.6pp). The average number of daily trades was just over 3 million.
There was also some attention paid to Pirelli RE (on the agreement for Berggruen to acquire Karstadt), resulting in the best property sector result for the week: +6.2% to 0.37€ beating the 2.6% of the  Epra Europe reference index.

Tags: ,

Categories: Peers & Markets Pirelli


Write a comment »

« Older Entries


1 - 3 of 18 for the tag: Buy