Michelin Shares Break €34, Marking One of the Best Performances on the CAC 40
The Clermont-based manufacturer continues its upward trajectory at mid-session, marking one of the best performances on the CAC 40. The stock breaks a technical level closely watched for several weeks, following the completion of an American acquisition in technical textiles.
The Stock Breaks the €34 Resistance and Reaches New Highs
Michelin shares are up 2.06% at €34.70 midday, among the strongest gains on the CAC 40 as the index itself is up 0.69%. The stock has broken through its €34 resistance during the session and remains above it, extending an already clear upward trend with +10.54% over one month and +16.01% over three months. The price is significantly above its three moving averages, with nearly a 5% gap over the MM20 (€33.06) and 8% over the MM50 (€32.11), indicating a solid underlying trend. The RSI at 63 remains in a bullish tension zone without tipping into overbought territory, leaving the next round level of €35 as an immediate benchmark above the current price.
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The move comes in the wake of the completion of the acquisition of Tex Tech Industries, a specialist in technical textiles announced on July 1st. The cash-funded transaction is the third major acquisition in the Polymer Composite Solutions division since January, and the target generated $128 million in revenue in 2025. This shift towards specialty composites is part of a trajectory presented during the Media Day on June 9th and 10th, where the group highlighted that specialty tires represent 17% of its revenue with higher profitability.
In parallel, the gradual closure of the BFGoodrich site in Tuscaloosa announced at the end of June reflects an adjustment of the North American industrial apparatus. The breakthrough of €34 now sets the next technical round threshold of €35 as an immediate horizon.
SectorAutomobile et mobilité›Équipementiers automobiles
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Context
Period
Period: 9M 2026
Key reported figures
Revenue: 19 175 millions d'euros
Quarterly revenue: 19 175 millions d'euros
Revenue growth: -0,5 %
Guidance from the release
Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
Risks mentioned
Faiblesse persistante de la Première monte, qui fait reculer les volumes pneumatiques du Groupe de 0,8 % à fin septembre, en particulier en Tourisme Camionnette en Europe et en Amérique du Nord (en Chine, les ventes du Groupe progressent sur un marché en recul de 7 %)
Concurrence des pneumatiques importés à bas prix, notamment d'Asie, qui pèse sur les marques Tier 2 en Amérique du Nord, Tier 3 dans les principales régions et sur le Poids lourd en Amérique du Sud
Faiblesse persistante des Convoyeurs, liée à la prudence des clients miniers en matière de dépenses et à la faiblesse du marché du minerai de fer, notamment en Australie
Opportunities identified
Expansion de Polymer Composite Solutions soutenue par les acquisitions de Cooley Group, Flexitallic et TexTech en 2026 (chiffre d'affaires +21,9 % publié, -2,7 % hors effet de périmètre à cause des Convoyeurs)
Activité Mines en croissance, avec des gains de parts de marché, qui compense la pression sur le Hors-la-route (segment Spécialités -0,9 % publié, +0,4 % à périmètre comparable)
Dynamique positive de la marque MICHELIN en Remplacement avec volume de +4% en fin septembre
Outlook / guidance
Management commentary: Michelin confirms its full-year guidance, targeting growth in segment operating income at iso-forex and iso-scope compared with 2025, and over €1.6 billion in free cash flow before M&A.
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
