ARCHIVE

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.

Share to Facebook Share to Linkedin Share to Twitter More...

PEERS & MARKETS

European stock markets were down in the week from 19th to 23d March 2012 (-3.5% Milan, London -1.9%, -2.3% Frankfurt, Paris -3.3%). Market sentiment was affected by the renewed fears of a weakening Chinese economy.

An increase in fuel prices operated by the government in Beijing (the second in the last 6 weeks) plus a warning on estimates of the auto market by Chinese producers’ association (probably less than 5% growth), weighted on the Auto&Parts sector, which was down by 4.7% in Europe.

Pirelli closed the week at € 8.83 (-1.8%) with an average daily traded volumes of approximately 5 million. Goldman Sachs (Buy, € 14.3) and Citi (Buy, TP € 10.5 from € 8.5) renewed the positive view on the stock indicating Pirelli as one of the few companies in the sector with room for upside in spite of the recent rally. The consensus target price now stands at € 9.85 with 91% of coverage with positive recommendations.


Write a comment »

Share to Facebook Share to Linkedin Share to Twitter More...

PEERS & MARKETS

Fears about the stability of the euro continue to affect the trend in financial markets in the week 11-15 July (Milan -3.1%. London –2.5%, Paris -4.8%, Frankfurt -2.5%).

Pirelli bucked the trend of the Milan stock exchange and the Stoxx Auto (+6.6pp; +2.6pp) ending the week at €7.66, a rise of 3.7%. The shares, which have recorded growth of 26.5% since the start of the year, were also sustained by the Goldman Sachs upgrade of its TP to €11.0.  High pricing power and continuous improvement of its mix characterise the Pirelli equity story, according to the broker. The market is not ignoring potential growth in Pirelli’s profitability, predicting a group ebit margin of 9.9% in 2011 and 12.7% in 2013.



Write a comment »


2 news for the tag: Goldman Sachs