Pirelli, HSBC lowers target price

The analysts of HSBC they lowered the target price are Pirellian Italian tire manufacturer that is part of the FTSE MIB, a 5,30 euro per share (from the previous 5.5 euros), confirming the recommendation “Buy” on the stock. The broker instead raised its target price on the competitor Michelin at 32 euros per share (from the previous 29 euros), reiterating in this case the “Hold” rating.

Pirelli presents a unchanged trend compared to the day before e it stands at 4.752 euros. The technical implications assumed support the hypothesis of a continuation of the day in an erratic direction with resistance seen at 4.777 and the first support estimated at 4.721.