Pirelli & C

Pirelli & Co. is a holding company that manages, coordinates and finances the operations of its subsidiaries, which are mainly active in the tyre sector. Other activities relate to the emissions control technologies, renewable energy sources and fashion industries. Co.'s Total Tyre Business is split into: the Consumer Business segment that includes car and motorcycle tyres made for both the original equipment and replacement markets; and the Industrial Business segment that includes truck tyres, tyres for agricultural equipment, made both for the original equipment and replacement markets, and the steel cord business.
  • TickerPIRC
  • ISINIT0005278236
  • SectorAutomobiles & Parts
  • CountryItaly

Analysts

Michael Foundoukidis

ODDO : Auto suppliers still under pressure in the run-up to publications

In the run-up to publications, we have revised down our 2019 production scenario (-3.5% est. vs -1.6%), our estimates (~4% on average) and our target prices (~5% on average). In the face of persistently unfavourable momentum, we are sticking with our cautious stance on suppliers (Valeo downgraded to Reduce vs Neutral) and our preference for the tyre segment and Michelin, in particular. - >The assumption of a rebound in production in H2 2019 has been cast into doubt - ...

Michael Foundoukidis

ODDO : Les équipementiers encore sous pression à l’approche des publications

A l’approche d’une saison de publications à haut risque, nous révisons en baisse notre scénario de production 2019 (-3.5%e vs -1.6%), nos estimations (~4% en moyenne) et nos objectifs de cours (~5% en moyenne). Face à un momentum qui devrait donc rester difficile, y compris sur 2020/21, nous maintenons notre prudence sur les équipementiers (nous dégradons Valeo à Alléger vs Neutre) et notre préférence pour les pneus et Michelin. - >La thèse du rebond de la production au S2...

1 director bought

A director at Pirelli & C. Spa bought 50,000 shares at 5.125EUR and the significance rating of the trade was 77/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Michael Foundoukidis

ODDO : Auto suppliers still under pressure in the run-up to publications

In the run-up to publications, we have revised down our 2019 production scenario (-3.5% est. vs -1.6%), our estimates (~4% on average) and our target prices (~5% on average). In the face of persistently unfavourable momentum, we are sticking with our cautious stance on suppliers (Valeo downgraded to Reduce vs Neutral) and our preference for the tyre segment and Michelin, in particular. - >The assumption of a rebound in production in H2 2019 has been cast into doubt - ...

Michael Foundoukidis

ODDO : Les équipementiers encore sous pression à l’approche des publications

A l’approche d’une saison de publications à haut risque, nous révisons en baisse notre scénario de production 2019 (-3.5%e vs -1.6%), nos estimations (~4% en moyenne) et nos objectifs de cours (~5% en moyenne). Face à un momentum qui devrait donc rester difficile, y compris sur 2020/21, nous maintenons notre prudence sur les équipementiers (nous dégradons Valeo à Alléger vs Neutre) et notre préférence pour les pneus et Michelin. - >La thèse du rebond de la production au S2...

Michael Foundoukidis

Pirelli : Good resilience within the automotive sector

>Buy rating maintained after Q1 results that showed no surprises - Yesterday evening Pirelli published preliminary Q1 2019 results in line with the consensus, showing, as expected, a significant decline in volumes, offset by a high price-mix effect. All told, the downward revision to the sales guidance (EBIT/FCF maintained) is unlikely to come as a surprise and the consensus should remain relatively unchanged. We revise our estimates for adjusted EBIT down by ~2% to f...

Jean-Louis Sempé

INVESTSECURITIES - PIRELLI : Un T1 2019 solide, nos BNA 2019 maintenus

Michael Foundoukidis

Pirelli : Une résilience appréciable au sein du secteur automobile

>Opinion Achat maintenue après un T1 sans surprise - Pirelli a publié, hier soir, des résultats préliminaires T1 2019 en ligne avec le consensus et marqués, comme attendu, par un déclin significatif des volumes, compensé par un effet prix-mix très élevé. Au global, la révision en baisse de la guidance de CA (EBIT/FCF maintenus) ne devrait pas surprendre et le consensus rester relativement inchangé. Nous révisons nos estimations d’EBIT ajusté en baisse de ~2% afin d’in...

1 director bought

A director at Pirelli & C. Spa bought 50,000 shares at 5.125EUR and the significance rating of the trade was 77/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/15/2019

...

Anis Zgaya ...
  • Christophe-Raphaël Ganet
  • Fehmi Ben Naamane
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Matthias Desmarais
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/05/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Jerôme Bodin
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/15/2018

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Jerôme Bodin
  • Khaled Ben Amor
  • Laurence Hofmann
  • Louis Boujard
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Rémi Adam
  • Stephane Houri
  • Veysel Taze

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 15/11/2018

...

PIRELLI & C with less fundamental stars is reduced to Neutral

PIRELLI & C (IT), a company active in the Tires industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 2 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date May 7, 2019, the closing price was EUR 5.88 and its expected value was estimated at EUR 6.23.

MarketLine Department

Carlisle Companies Inc - Strategy, SWOT and Corporate Finance Report

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Apollo Tyres Ltd - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Apollo Tyres Ltd Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Apollo Tyres Ltd since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key H...

MarketLine Department

Carlisle Companies Incorporated - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's Carlisle Companies Incorporated Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by Carlisle Companies Incorporated since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its...

Expert Corporate Governance Service (ECGS)

Pirelli - AGM 15 May 2019

The AGM is called to ratify the appointment of Mr. Ning Gaoning as non-executive Director (item 2.A) and Chairman of the Board of Directors (item 2.B). Mr. Ning is the Chairman of China National Chemical Corporation Limited (ChemChina), controlling shareholder of Pirelli with 45.5% of the share capital. We have concerns over the lack of independent representation on the Board (53% according to the Company's self-assessment, but 47% as per our guidelines), and we note that the Nominations Committee does not include any independent members and is chaired by the Company's CEO, which is not in acc...

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