Pirelli & C

S&P Global Ratings has raised Pirelli’s long-term issuer rating and its rating on unsecured bonds from BBB- to BBB with a stable outlook. The move reflects a significant decline in adjusted debt from €2.7bn at end-2024 to about €2.0bn at end-2025 and robust profitability. S&P expects an FFO-to-debt ratio of 50–55% for 2026–2027, adjusted EBITDA margins of 21–22% and annual free operating cash flow of €625–725m. Revenue is forecast to fall 0–1% in 2026; a downgrade could be considered if FFO-to-debt persistently falls below 40% or FOCF-to-debt below 20%. » Altro su de.investing.com

JPMorgan cut its rating for Pirelli from “Overweight” to “Neutral”, citing limited upside at the current price target despite the company reporting solid half-year results. Revenue in Q2 was €1,757.3 million with organic growth of 1.4%, adjusted EBIT rose to €280.4 million and the EBIT margin remained at 16%. JPMorgan notes a positive price/mix effect of 2.9% but reports a negative net cash flow before dividends and the consolidation of the call option on Xushen Tyre of -€556.9 million in the first half. The bank expects Pirelli to execute its industrial strategy and protect cash flow and the balance sheet mid-term, but currently sees no attractive further upside in the share price. » Altro su de.investing.com

Pirelli shares fell more than 3% after Citi downgraded its rating from "Buy" to "Neutral" and raised the price target from €7.40 to €7.50. Citi cites a 17% year‑to‑date rally and says the quarterly results are largely priced in; its own EBIT estimates are close to consensus. The firm highlights that Pirelli remains well positioned in the premium segment but prefers Michelin and Continental for the second half of the year. Talks of a partial sale of Sinochem's stake are mentioned but remain unconfirmed. » Altro su de.investing.com

Pirelli called allegations by short-seller Grizzly Research about its Russia engagement false and announced legal action against those spreading them. Earlier the stock had fallen by up to 13% and after the statement was last around 0.6% up. Grizzly had claimed roughly 10% of net profit came from Russia; Pirelli disputes this and stresses it does not manufacture tyres for military purposes. » Altro su de.investing.com

Pirelli has begun production of its connected cyber tires at the plant in Rome, Georgia, to strengthen its industrial and technological presence in the US. The move follows Italy’s restriction of the influence of its largest investor Sinochem (34.1%) through state special rights amid concerns about Chinese technology and US regulations. » Altro su de.investing.com