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Compagnie Générale des Établissements Michelin (MGDDF) Received its Third Buy in a Row

After UBS and RBC Capital gave Compagnie Générale des Établissements Michelin (Other OTC: MGDDF) a Buy rating last month, the company received another Buy, this time from J.P. Morgan. Analyst Jose Asumendi maintained a Buy rating on Compagnie Générale des Établissements Michelin yesterday and set a price target of EUR150.00. The company’s shares closed last Tuesday at $124.00.

According to TipRanks.com, Asumendi is a 3-star analyst with an average return of 3.5% and a 43.2% success rate. Asumendi covers the Industrial Goods sector, focusing on stocks such as Continental Aktiengesellschaft, Vitesco Technologies Group AG, and FREYR Battery.

Currently, the analyst consensus on Compagnie Générale des Établissements Michelin is a Strong Buy with an average price target of $171.85, a 38.6% upside from current levels. In a report issued on April 18, UBS also maintained a Buy rating on the stock with a EUR170.00 price target.

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The company has a one-year high of $180.04 and a one-year low of $111.00. Currently, Compagnie Générale des Établissements Michelin has an average volume of 682.

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Compagnie Générale des Établissements Michelin SCA engages in the manufacture, distribution and sale of tires. Its products and services include tires, mobility services, lifestyle products, Michelin solutions and Michelin engineering and services. The company operates through the following segments: Passenger car and Light truck tires and related distribution, Truck tires and related distribution, and Specialty businesses. Compagnie Générale des Établissements Michelin was founded by Aristide Barbier and Édouard Daubrée on July 15, 1863 and is headquartered in Clermont-Ferrand, France.

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