November 30, 2016 - By Hazel Jackson
Expert analysts at Jefferies & Co has begun coverage on shares of Cie Generale des Etablissements Michelin (OTC:MGDDY) in a research report sent to investors and clients on Tuesday, 29 November, Octafinance.com reports. The company set Underperform rating on MGDDY stock.
Out of 3 analysts covering Cie Generale des Etablissements Michelin (OTC:MGDDY), 0 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 0 are positive. Cie Generale des Etablissements Michelin has been the topic of 3 analyst reports since May 23, 2016 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Jefferies on Tuesday, November 29. The stock has “Neutral” rating given by JP Morgan on Monday, May 23. On Tuesday, November 22 the stock rating was initiated by Berenberg with “Sell”.
The stock increased 1.20% or $0.25 on November 29, hitting $21.53. About 47,381 shares traded hands or 22.47% up from the average. MICHELIN (CGDE) UNSP ADR EACH REPR 1 5 ORD (OTC:MGDDY) has declined 2.36% since April 27, 2016 and is downtrending. It has underperformed by 7.58% the S&P500.
According to Zacks Investment Research, “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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