Analysts say "buy" Michelin stock

Analysts from DB Global Equities reportedly are recommending Groupe Michelin shares as a clear "buy."

According to Tyres & Accessories magazine, French analysts Gaetan Toulemonde and Alexis Boyer report that the stock price, which closed at nearly 31 Euros ($33.03) yesterday, has the potential to rise to 50 Euros within 12 months.

The analysts classify Michelin as a company with strong brands and an excellent brand strategy.

Michelin will announce its 2002 net sales and financial results on February 5.