Michelin Shares Climb 2.75%, Targeting €33.74 Again
The Clermont-based manufacturer erases the previous day's profit-taking and resumes its upward trend. The stock is among the leaders in the CAC 40 at the close, as the Paris index returns to positive territory.
A Significant Rebound Places the Stock Above Its Three Moving Averages
Michelin shares gained 2.75% to close at €33.57, up from €32.67 the previous day. This increase positions the stock among the top performers in the CAC 40, in a session where the Paris index rose by 0.54%. The stock is now significantly above its three moving averages, with a gap of 3.68% from the MM20 (€32.38) and 10.54% from the MM200 (€30.37). The RSI at 54 remains neutral, allowing room before reaching a technical tension zone. The resistance at €33.74, which the stock approached the previous day, is once again in sight. The performance remains strong over longer horizons, with a gain of 6.54% over a month and 17.05% over the quarter, despite a slight weekly decline.
Analysts Maintain Buy Rating with Targets Above Current Price
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The consensus among analysts remains positive. CIC Market Solutions reaffirmed its buy rating today with a target of €35, representing an approximate 4.3% upside from today's price. Kepler Cheuvreux reiterated its buy opinion on June 22 with a target of €40, implying a potential upside of nearly 19%. The company had presented its specialty tire segment during its Media Day on June 9 and 10, which accounts for 17% of revenue and is distinguished by higher than average profitability. The plan to adjust staffing levels in France, with up to 1,500 job cuts over three years on a voluntary basis, was revealed at the end of May. Crossing €33.74 will be the next technical milestone to watch.
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.
