UBS keeps its EUR 35 target for Michelin stock
Published on 10/13/2026 at 10:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSKey points in brief
- UBS maintained a Neutral rating and EUR 35.00 price target for Michelin on October 8, 2026.
- Michelin reported EUR 12.70 billion revenue and an 11.40 percent segment operating margin in the first half of 2026.
- Michelin stock was at EUR 33.54 at Lang & Schwarz on October 13, 2026, while its 52-week range was EUR 25.51 to EUR 35.72.
Michelin (FR001400AJ45) was trading at EUR 33.54 at Lang & Schwarz on October 13, 2026 at 10:00 a.m. CEST, with the stock 6.10 percent below its 52-week high of EUR 35.72. UBS maintained its Neutral rating and EUR 35.00 price target for Michelin in an analyst note dated October 8, 2026, according to FinanzNachrichten.
Three dates show the changing picture
On July 27, 2026, Michelin reported EUR 12.70 billion revenue for the first half of 2026, up 0.50 percent at constant exchange rates, according to Motorhub. On October 1, 2026, JPMorgan kept its Overweight rating and EUR 42.00 target while estimating third-quarter revenue at EUR 6.45 billion, as reported by Boersen-Zeitung. On October 8, 2026, UBS kept its EUR 35.00 target while citing Chinese competitive pressure, according to FinanzNachrichten.
What does the 11.40 percent margin mean?
Michelin's first-half segment operating income reached EUR 1.45 billion, equal to an 11.40 percent margin versus 11.10 percent a year earlier. The increase of EUR 103.00 million, or 7.00 percent, at constant scope and exchange rates gives the shares a measurable operating improvement behind the analyst debate.
Free cash flow before mergers and acquisitions reached EUR 282.00 million in the first half of 2026, compared with negative EUR 102.00 million in the first half of 2025. Michelin also confirmed guidance for segment operating income above the 2025 level and more than EUR 1.60 billion in free cash flow before mergers and acquisitions, according to Yahoo Finance.
October 20 brings the next test
Michelin's investor calendar schedules third-quarter and nine-month sales for October 20, 2026. The first-half numbers show why the upcoming update matters: revenue grew 0.50 percent at constant exchange rates, while the 11.40 percent operating margin improved by 0.30 percentage points year over year.
The first-half call also set May 28, 2027 as the date for Michelin's next capital markets day, according to Yahoo Finance. For the stock, the near-term question is whether the October sales update can support the operating progress already visible in the first-half figures.
Stock remains below its yearly high
Michelin was trading at EUR 33.54 at Lang & Schwarz on October 13, 2026 at 10:00 a.m. CEST. Its market capitalization was EUR 22.7 billion, and the 52-week range was EUR 25.51 to EUR 35.72.
The further course of trading is shown by the continuously updated real-time quote of Michelin stock.
Michelin stock facts
- Company: Compagnie Générale des Établissements Michelin Société en commandite par actions
- ISIN: FR001400AJ45
- Ticker: ML.PA
- Primary exchange: Euronext Paris
- Price Lang & Schwarz as of October 13, 2026, 10:00 a.m. CEST: EUR 33.54
- Market capitalization: EUR 22.7 billion (as of October 13, 2026)
- 52-week range: EUR 25.51-EUR 35.72 (as of October 13, 2026)
- Sector / Industry: Consumer Cyclical / Auto Parts
- Index membership: Euronext 100
Market context: Market report CAC 40.
