Michelin to Feel Pain From Iran War -- Market Talk

Dow Jones04-30

1016 GMT - Michelin is set to take a hit from rising costs due to the Middle East conflict, analysts at Italian investment bank Equita Sim write, cutting their rating on the stock to reduce. The French tire manufacturer this week backed its guidance for the year, but said the war in Iran has thrown global demand into uncertainty. "We believe [the higher costs] are difficult to be fully offset in the short term," Equita says. "If the macro/geopolitical backdrop evolves positively, we believe other cyclical stocks have more potential to rebound than the tire-makers." Equita trims its target price on the Paris-listed stock to 30 euros. Shares fall 1.6% to 30.66 euros after the update. (joshua.kirby@wsj.com; @joshualeokirby)

(END) Dow Jones Newswires

April 30, 2026 06:16 ET (10:16 GMT)

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The French tire manufacturer this week backed its guidance for the year, but said the war in Iran has thrown global demand into uncertainty. \"We believe [the higher costs] are difficult to be fully offset in the short term,\" Equita says. \"If the macro/geopolitical backdrop evolves positively, we believe other cyclical stocks have more potential to rebound than the tire-makers.\" Equita trims its target price on the Paris-listed stock to 30 euros. Shares fall 1.6% to 30.66 euros after the update. 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The French tire manufacturer this week backed its guidance for the year, but said the war in Iran has thrown global demand into uncertainty. \"We believe [the higher costs] are difficult to be fully offset in the short term,\" Equita says. \"If the macro/geopolitical backdrop evolves positively, we believe other cyclical stocks have more potential to rebound than the tire-makers.\" Equita trims its target price on the Paris-listed stock to 30 euros. Shares fall 1.6% to 30.66 euros after the update. 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