MICHELIN SCA

ML
Real-time Estimate Quote. Real-time Estimate  - 10/23 07:06:32 am
97.76EUR +3.25%

Michelin : Underpinned by a support level

Jordan Dufee
Analyst

Strategy published on : 10/09/2019 | 02:39

long trade on a pullback
Conditional Order Terminated

Entry price : 91.7€
Target : 100€
Stop-loss : 87€
Cancellation Level : 99.8€
Potential : 9.05%

The support at 91.72 EUR, which is currently being tested, should allow Michelin shares to move back to the upside.
Investors should buy the stock at current prices near € 91.7 in order to target the € 100.

Summary

● The company has strong fundamentals. More than 70% of listed companies have a lower mix of growth, profitability, debt and visibility criteria.

● In a short-term perspective, the company has interesting fundamentals.


Strengths

● The group usually releases upbeat results with huge surprise rates.

● The company has attractive valuation levels with a low EV/sales ratio compared with its peers.

● Its low valuation, with P/E ratio at 9.38 and 8.57 for the ongoing fiscal year and 2020 respectively, makes the stock pretty attractive with regard to earnings multiples.

● Over the past year, analysts have regularly revised upwards their sales forecast for the company.


Weaknesses

● Analysts covering the stock have recently lowered their earnings forecast.

● For the last four months, EPS estimates made by Standard & Poor's analysts have been revised downwards.

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