Michelin Shares Climb 2.5% Approaching the €35 Threshold
The Clermont-based manufacturer continues its momentum into mid-morning, reaching a level not seen for several months. This movement is accompanied by a target price adjustment from a major European bank, which supports the trajectory of the stock.
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
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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.
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.
