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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The week 13 to 17 June was characterised by ups and downs on the main international markets (Milan -0.1%, London -0.9%, Frankfurt +1.3%, Paris +0.5%) with market focused on Greek debt.

Pirelli, in counter-trend with respect to the main peers and Piazza Affari (Milan Stock Echange -0.1%) closed at 6.76€, a rise of 1.5% with an average trading volume of 3 million per day.

During the week (14 June) Intermonte brought Target Price to 10€ per share (8.5€ the previous TP), the highest value ever assigned until now: the focus on premium, the price policy and a geographical positioning more open towards emerging markets – in particular in the Truck sector – will allow Pirelli to reach a profitability in line with Continental’s (with a forecast of 14% for Ebit margin in 2015). Similar drivers also brought Morgan Stanley (16 June) to confirm its strong recommendation to buy the stock(Buy, TP 9€).

The consensus Target Price was 8.22€, 96% the Buy percentage on a coverage of 22 analysts.

Note the publication of the figures on the tyre market for May ( which underline a positive trend in the demand in Mercosur and Europe, an improvement with respect to April’s figures.

Categories: Peers & Markets

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