Michelin : Still one of our Top Picks
>A (very) slightly less robust year-end on volumes than anticipated - Yesterday evening, Michelin published data from the tyre markets in December which were in line with October/November trends (i.e. up for passenger cars and still weak for trucks although improving). This led us to slightly edge-down our volume scenario for the year to -4.2% vs -4.0% (vs guidance ~-4%). The end of the destocking wave, observed since the fall, is nonetheless confirmed (including for ...
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.
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