Michelin : Cautious stance should not overshadow the group’s strengths
>Solid 2019 results but greater caution on 2020 - Michelin's 2019 results were solid, with EBIT in line and FCF beating forecasts. However, the 2020 guidance and management's relatively cautious message (as usual) cast a shadow over these results and could put the stock under pressure today. That said, the very limited impact of adjustments likely for the consensus (~3-4% max) is a reminder of Michelin's resilience in a still-difficult environment and its differentiat...Compagnie Generale des Etablissements Michelin is active in the tire and mobility-related service markets. Co. manufactures, distributes and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of services. Co.'s operates in three segments: Passenger car/Light truck tires and related distribution; Truck tires and related distribution and Specialty businesses segment including tires for specialty vehicles and maps and guides. Co. distributes its products through two tire distribution networks: Euromaster (Europe) and TCI (U.S.A.) and its brands include Michelin, BFGoodrich, Kleber, Uniroyal, Warrior, Kormoran, Riken, Taurus and Tigar.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.