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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 12.10.09International markets end the week on a positive note, an average increase of 4 percentage points, particularly for the European Auto & Parts sector (+7.4%) and for the Basic Resources sector (+10%). The rally was mainly due to the quarterly results of US aluminum giant Alcoa, which beat market expectations by far. Pirelli is among the top companies from the Milan Stock Exchange, ending the week in positive territory by 12.7% at € 0.398, significantly outperforming the index sector (+5.3%) as well as the Italian blue-chip index (+7.8 %). Pirelli continues to be upgraded: during the week, Banca Akros raised its target price on the stock to € 0.49 (from 0.42) confirming a “Buy” rating.  TP’s review is mostly linked to Pirelli Tyre, which is now being evaluated by Banca Akros’ financial analyst, applying the same market multiples as Michelin.
In view of Continental’s new CEO, the stock increased to + 15.8%, whereas Michelin in line with the Auto & Parts sector makes makes +7.4%.
The real estate sector also rallies this week (+5.8% Epra Europe) with Pirelli RE closing the week at € 0.676, a positive change of 4.6%.

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PEERS & MARKETS

Peers&Markets 2.10.09Profit-taking this week for major stock markets, averaging losses of over 2% from September 28th to October 2nd; cyclic stocks were particularly hit in view of negative data on US macroeconomic performance (the PMI index – Purchasing Managers Index- of Chicago dropped in September to 46 points compared to the 50 points of the previous month).
Pirelli limits losses (-1.7% at €0.353) as opposed to the European Auto & Parts sector (-2.5%), significantly overperforming other companies from the tyre sector (Michelin -7.7%, Continental -5.2%, Nokian -5.6%). Pirelli continues to be upgraded: during this week, Banca Leonardo and Equita raised their target price on the stock to €0.45 (from €0.35) and to €0.48 (from 0.37), maintaining a “buy” rating. The upward revision in the target price reflects the upside of the pneumatic business and a lower impact on corporate costs in the NAV group (the simplification of its corporate structure announced by the Group last September 16th).
Following the announcement of Intesa San Paolo acquiring part of Pirelli RE SGR equity, the stock closed the week against the market trend (+1.2% a 0.646€) compared to the European real estate sector (-2.3%).

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PEERS & MARKETS

Peers&Markets 28.09.09

The markets saw profit taking on week 21-25 of September.  Major European markets reported losses with sales mainly in the cyclic sector as well as in the Auto & Parts, construction and oil industry sector (all dropped by more than 3%).
Following the market rally over the past few weeks (+17% from September 1st to September18th), Pirelli & C finishes the week at € 0.359, a 4.9% decrease. The stock was upgraded on average by 9 cents; Intermonte (buy rating at €0.46 from €0.37), Deustche Bank (Buy at €0.40 from €0.34), UBS (Neutral at €0.38 from €0.28), Kepler (Reduce at €0.31 from €0.22). This upside is mostly linked to a reassessment of the tyre business and to a lower impact on corporate costs in the Group’s net asset value.
Pirelli RE finishes the week with -4.4% (€0.639) lagging behind the European real estate sector by about one percentage point.

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


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