Zacks Investment Research Upgrades MICHELIN (CGDE) (MGDDY) to Buy

MICHELIN (CGDE) (NASDAQ:MGDDY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report issued on Friday, May 12th. The firm presently has a $30.00 price objective on the stock. Zacks Investment Research‘s price objective points to a potential upside of 10.62% from the company’s current price.

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. “

MICHELIN (MGDDY) traded up 1.57% on Friday, reaching $27.12. 23,969 shares of the company’s stock were exchanged. MICHELIN has a 1-year low of $17.85 and a 1-year high of $27.29. The company has a 50 day moving average price of $26.21 and a 200-day moving average price of $23.60. The company has a market capitalization of $24.42 billion and a PE ratio of 13.50.

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