Deutsche Bank Upgrades Pirelli Stock

Deutsche Bank upgraded Pirelli to buy in London today. According to The Wall Street Journal the broker said that the stock is likely to outperform estimates. While a capital increase at Pirelli Real Estate is partially to thank for the prediction, it is the improvement forecast in the company’s tyre division from the second quarter that explains the new categorisation. Deutsche also believes that steps will be taken to reduce the holding discount. Shares climbed 4.7 per cent in Milan.