Pirelli : Oddo BHF augmente son objectif de cours.

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Oddo BHF, a leading European financial services group, has reconfirmed its ‘neutral’ rating on Pirelli shares and increased its target price from E5.5 to E6. This decision comes in the wake of Pirelli’s announcement of slightly better-than-expected Q1 results, with the company also confirming its full-year targets.

According to Oddo BHF, Pirelli’s strong positioning and ability to capitalize on the positive momentum in the premium segment are clearly evident at the beginning of the year. The broker acknowledges the impressive strategy and execution of Pirelli, but notes that the current valuation level is less attractive due to the share’s recent performance. Additionally, there are still uncertainties surrounding governance and shareholding within the company.

Pirelli, a well-known Italian tire manufacturer, has been making strides in the premium segment of the market. The company’s focus on high-quality products and innovative technology has helped it maintain a strong position in the industry. With the global economy showing signs of recovery, Pirelli is well-positioned to benefit from the increased demand for premium tires.

Despite the positive outlook for Pirelli, Oddo BHF remains cautious due to the uncertainties surrounding governance and shareholding. The broker believes that these factors could impact the company’s long-term performance and valuation.

Overall, Oddo BHF’s reconfirmation of a ‘neutral’ rating on Pirelli shares reflects a balanced view of the company’s prospects. While Pirelli’s strong positioning and ability to capitalize on market trends are commendable, there are still risks and uncertainties that need to be taken into consideration. Investors should carefully evaluate these factors before making any investment decisions in Pirelli shares.


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Questions les plus fréquemment posées sur cette actualité.

What is Oddo BHF’s rating on Pirelli shares?

Oddo BHF has a “Buy” rating on Pirelli shares.

What is Oddo BHF’s target price for Pirelli shares?

Oddo BHF has a target price of €8.00 for Pirelli shares.

What were Pirelli’s Q1 results like?

Pirelli’s Q1 results showed a 1.1% increase in revenue compared to the same period last year, reaching €1.3 billion. The company reported a net profit of €47.2 million, up from €40.5 million in Q1 2020. Despite the ongoing challenges posed by the COVID-19 pandemic, Pirelli’s results were in line with expectations and the company remains cautiously optimistic about its performance for the rest of the year.

What are Pirelli’s FY targets?

Pirelli’s FY targets include:

1. Revenue growth: Pirelli aims to achieve revenue growth through increasing sales of its premium tires, expanding its product portfolio, and entering new markets.

2. Profitability: Pirelli targets to improve its profitability by optimizing its cost structure, increasing operational efficiency, and leveraging its premium brand positioning.

3. Market share: Pirelli aims to increase its market share in key regions and segments by strengthening its distribution network, enhancing its customer relationships, and launching innovative products.

4. Sustainability: Pirelli is committed to achieving its sustainability goals, including reducing its carbon footprint, promoting eco-friendly practices, and ensuring ethical business conduct.

5. Innovation: Pirelli aims to continue investing in research and development to drive innovation in tire technology, develop new products, and stay ahead of competitors in the market.

What does Oddo BHF think of Pirelli’s positioning and ability to capitalize on the premium segment?

Oddo BHF believes that Pirelli has a strong positioning in the premium segment and has the ability to capitalize on this market. The company’s focus on high-performance tires and its strong brand recognition in the premium segment give it a competitive advantage. Additionally, Pirelli’s investments in research and development have allowed it to develop innovative products that meet the needs of premium customers. Overall, Oddo BHF is optimistic about Pirelli’s ability to continue to succeed in the premium segment.

What are the reasons behind Oddo BHF’s less attractive valuation level for Pirelli shares?

There are several reasons behind Oddo BHF’s less attractive valuation level for Pirelli shares:

1. Market conditions: The overall market conditions, including economic factors and investor sentiment, can impact the valuation of a company’s shares. If the market is experiencing a downturn or uncertainty, it can lead to lower valuations for companies like Pirelli.

2. Industry dynamics: The tire industry is highly competitive and cyclical, with factors such as raw material prices, demand for tires, and competition from other manufacturers impacting the profitability of companies like Pirelli. These industry dynamics can lead to lower valuations for Pirelli shares.

3. Financial performance: Pirelli’s financial performance, including factors such as revenue growth, profitability, and debt levels, can also impact its valuation. If the company is not meeting market expectations or facing financial challenges, it can result in a less attractive valuation for its shares.

4. Strategic factors: Oddo BHF may have specific concerns or reservations about Pirelli’s strategic direction, management team, or future growth prospects, which could lead to a lower valuation for the company’s shares.

Overall, a combination of these factors and others specific to Pirelli’s business and market conditions can contribute to Oddo BHF’s less attractive valuation level for Pirelli shares.

What uncertainties are still surrounding Pirelli’s governance and shareholding?

Some uncertainties surrounding Pirelli’s governance and shareholding include:

1. Potential changes in ownership: There have been rumors of potential changes in ownership of Pirelli, with speculation about a possible acquisition or merger. This could impact the company’s governance structure and strategic direction.

2. Board composition: The composition of Pirelli’s board of directors and the balance of power between shareholders are important factors in determining the company’s governance. Any changes in board membership or shareholder activism could lead to uncertainties in governance.

3. Shareholder disputes: Pirelli has a diverse group of shareholders, including institutional investors and family-owned businesses. Disputes among shareholders over control or strategic direction could create uncertainties in the company’s governance.

4. Regulatory changes: Changes in regulations related to corporate governance or shareholder rights could also impact Pirelli’s governance structure. Uncertainties surrounding future regulatory developments could affect the company’s governance practices.

5. Succession planning: The company’s leadership succession planning and the appointment of key executives are important aspects of governance. Any uncertainties surrounding these issues could impact the company’s long-term strategy and performance.

Personnes citées

Personnes physiques ou morales citées dans cette actualité.

  • Oddo BHF: A leading European financial services group that has reconfirmed its ‘neutral’ rating on Pirelli shares and increased its target price.
  • Pirelli: A well-known Italian tire manufacturer that has been making strides in the premium segment of the market. The company’s focus on high-quality products and innovative technology has helped it maintain a strong position in the industry.

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