Pirelli : CMD preview: fresh start?
>Estimates lowered after the cautious stance adopted by peers recently - Ahead of the group’s FY-19 results release and the CMD in Milan on 19 February and following peers’ releases, we have shaded down our 2020 estimates to reflect a more conservative volume approach. All told, we are leaving our 2019 estimates unchanged but have reduced our 2020 EPS estimates by 4% and we are in line with expectations (aside from EPS where we are 10% above).We maintain...Pirelli & Co. is a holding company that manages, coordinates and finances the operations of its subsidiaries, which are mainly active in the tyre sector. Other activities relate to the emissions control technologies, renewable energy sources and fashion industries. Co.'s Total Tyre Business is split into: the Consumer Business segment that includes car and motorcycle tyres made for both the original equipment and replacement markets; and the Industrial Business segment that includes truck tyres, tyres for agricultural equipment, made both for the original equipment and replacement markets, and the steel cord business.
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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