Michelin, a French tire manufacturer, has received a 'buy' recommendation from UBS with a target price of €40, indicating a potential upside of 26% for the stock.
Investors are eagerly awaiting the company's 2025 targets, which are expected to shed light on its future growth.
Currently, Michelin's stock is trading at a price-to-earnings ratio of around 10 times for 2024, with a yield of approximately 5%. This makes it an attractive option for investors seeking value in the automotive sector.
The market will closely monitor Michelin's performance as it awaits further developments.