Zacks Investment Research Upgrades Michelin (MGDDY) to “Buy”

Michelin (OTCMKTS:MGDDY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $33.00 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.28% from the stock’s previous close.

According to Zacks, “Compagnie Generale des Etablissements Michelin manufactures and sells tires for all kinds of vehicles, publishes maps and guides and operates a number of digital services. It manufactures and sells tires for cars, two-wheel vehicles, trucks, construction machinery, tractors and aircrafts. It also sells various car and bicycle accessories like pumps, manometers bicycle helmets, hubcaps, replacement components for tires and transport accessories. Other products sold by the company include protective clothing, table tennis rackets, shoe insoles along with many other items designed for road users. Compagnie Generale des Etablissements Michelin is based in Clermont-Ferrand, France. “

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Separately, Morgan Stanley downgraded Michelin from an “overweight” rating to an “equal weight” rating in a research note on Friday, March 23rd.

Michelin stock opened at $29.39 on Tuesday. Michelin has a twelve month low of $23.35 and a twelve month high of $32.26. The company has a market cap of $26,479.20, a price-to-earnings ratio of 14.55, a P/E/G ratio of 1.64 and a beta of 1.00.

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Michelin Company Profile

Compagnie Générale des Établissements Michelin manufactures, distributes, and sells tires worldwide. The company operates through three segments: Passenger Car and Light Truck Tires and Related Distribution; Truck Tires and Related Distribution; and Specialty Businesses. It offers tires for cars, vans, trucks, buses, farm machinery, earthmovers, mining and handling equipment, tramways, metros, aircraft, motorcycles, scooters, and bicycles.

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