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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&MARKETS 01.04-09.04.10A negative week for the European tyre sector, penalised by the progressive rise in the cost of natural rubber, which has reached new peaks.
Pirelli closed the week at €0.436, down by 4%, in line with the trend of its main peers (Michelin -4%, Nokian -4.2%).
During the week Société Générale upgraded Pirelli to a TP of  €0.54 (from €0.50) after reviewing its  assessment of the tyre business while Intermonte expressed a neutral view  on Pirelli & C  given the current trend in prices of raw materials, its assessment of the share,  with TP at €0.50, remained unchanged.
The current Consensus Target Price is around € 0.52, with Buy as the prevailing recommendation (88% of coverage by 19 brokers).
Pirelli RE closed the week at €0.459, slightly down from 0.5%.


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PEERS & MARKETS

PEERS&MARKETS 15.3-19.3.10A positive week on the stock market for Pirelli & C (up 1.3% to € 0.44) markedly better than the performance of its European peers (-0.6% Michelin, -1.1% Continental, -4.7% Nokian).
The rising share price was underpinned by recent valuation upgrades after publication of the company’s annual results: 9 of the brokers (50% of the total coverage) raised the Pirelli Target Price, by an average of 4 eurocents. The mean consensus valuation is around 0.51€; with  a Buy recommendation from most brokers (82% of the total).
The performance of the company’s peers in the tyre sector was weak.
Pirelli RE also outperformed other shares in the sector  (+3.9 percentage points higher than the Epra Europe index) rising 4.5% to € 0.464 by the end of the week.


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PEERS & MARKETS

PEERS&MARKETS 1.2-5.2.10A bad week for European stock markets (-4.9% Milan, -2.5% London, -3.1% Frankfurt, -4.7% Paris), burdened by fears of the high indebtedness of Spain, Greece and Portugal, and about the strength of the euro.
Sales mainly involved the banking sector (-6.4% the European reference index), the auto& parts sector (-4.5%) and the construction industry (-4.3%).
Pirelli closed the week at € 0.391, a fall of 7.6%. Its peers also closed down, with Continental falling by 6% and Micheln and Nokian by 5%. During the week, Kepler upgraded its recommendation for Pirelli &C from Hold to Buy, with target prices increasing from € 0.45 to € 0.47. The upside is driven by the reduction in the weight of holding costs on NAV, in the light of the company’s declared commitment to the process of focussing on its industrial activities, and the positive expectations for its tyre business in 1H 2010. The Consensus Target price is € 0.486 on coverage of 18 brokers, 76%  BUY, 24% Hold.
Pirelli RE
closed 7.7% down.

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