Michelin Shares Climb 2.5% Approaching the €35 Threshold

Deutsche Bank Raises Target to €36 and Reverts to Buy Rating on the Stock

Michelin shares gained 2.53% to €34.86 in mid-morning trading, in a CAC 40 that was down by 0.18%. On Friday, Deutsche Bank raised its target price from €34 to €36, with a buy rating, representing a potential of about 3.3% beyond the current price. At the same time, CIC Market Solutions raised its target to €35 while remaining Neutral.

Analyst opinions thus converge around the same level, around the round threshold of €35. Today's movement follows the completion on Tuesday of the acquisition of Tex Tech Industries, an American case that expands the Polymer Composite Solutions division and was already praised by the market the day before.

The Stock Crosses the €34 Mark and Posts +10.5% Over a Month

The stock has risen by 10.54% over a month and 16% over three months, a dynamic that now places it above its three main moving averages: the MM20 at €33.21, the MM50 at €32.16, and the MM200 at €30.45. The gap with the latter exceeds 14%, indicating a decidedly bullish underlying trend. The RSI at 68 approaches the overbought zone without entering it, while the next psychological threshold is at the round €35, less than one percent from the current price.

The Paris session remains mixed, with a CAC 40 that is eroding despite a falling VIX at 15.97. The next concrete appointment for the stockholders: crossing (or not) the €35 threshold, which coincides with the target set by CIC Market Solutions.