JPMorgan issues updated ratings for Michelin, Givaudan, and TotalEnergies

JPMorgan has released several updated analyst ratings and price targets for major European companies.

For the French tire manufacturer Michelin, the bank maintained an ‘Overweight’ rating with a price target of 42 euros. Analyst Jose M Asumendi kept earnings estimates largely stable following the company’s recent quarterly earnings conference.

Regarding the Swiss fragrance and flavor company Givaudan, JPMorgan raised its price target from 3,700 to 4,100 Swiss francs while confirming an ‘Overweight’ rating. This adjustment follows Givaudan’s nine-month financial results, which reported revenue of 5,891 million Swiss francs, driven largely by an 8.8 percent comparable growth in the Fragrance & Beauty sector.

Finally, the bank maintained a ‘Neutral’ rating for TotalEnergies with a price target of 85 euros. Analyst Matthew Lofting noted that refining conditions in Europe have deteriorated slightly compared to recent record highs, with average margins since early October sitting more than 30 percent below third-quarter levels.