Michelin's disappointing third-quarter sales figures have led UBS to maintain its 'Buy' rating for the company, with a target price of 43 euros.
Sales within the specialty business have declined, and weak demand from car manufacturers has caused Michelin to lower its earnings forecast for the year. Concerns among investors have arisen due to challenges in Michelin's market performance. The revised outlook reflects the impact of broader trends affecting the automotive sector on tire manufacturers.