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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 2-6.11.09International markets end week on a positive note, an average increase of 2 percentage points, particularly for the cyclical sector (+2.2% for Auto & Parts, + 2.8% for industrials and +6% basic resources).
Pirelli is among the top gainers from the Milan Stock Exchange, ending the week with a gain of 6% at €0.406, significantly outperforming the  Auto&Parts index and the Italian blue-chip index (+4%). The market reacted positively to the company’s quarterly results, particularly considering the positive outlook and the revised guidance the on the tyre business unit.
Following the quarterly results announcement, nine brokers (Banca Imi, Banca Leonardo, Centrobanca, Centrosim, Cheuvreux, Exan, Kepler, Mediobanca, Societè Generale) increased the rating on Pirelli stock (an average of +5% on the target price). The consensus forecast for Pirelli settles at €0.43; a “BUY” recommendation prevails on coverage made by 18 business banks.
Pirelli RE ends the week the with a 1.8% increase against the market trend, compared major securities from the Italian real estate sector.


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PEERS & MARKETS

Peer&Markets19-23.10.09International markets end the October week 19-23 down on profit taking.
After the two week rally (+17%),  Pirelli & C. ends the week at €0.402, a 2.9% decline, in line with the European tyre sector (Michelin -3% and Continental -2.7%). Also during the week, Deutsche Bank raised its target price on the stock from €0.40 to €0.47, confirming a “Buy” recommendation on the stock.  This upside is mainly due to the cutback on the holding discount and the improvement on the evaluation of Pirelli Tyre.
Average ratings from stock analysts on Pirelli settle at €0.40; a “BUY” recommendation prevails on coverage made by 18 business banks.
Pirelli RE ends the with a 6.6% decline, compared to the European real estate sector down by 0.5%.

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


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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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