Pirelli shares rise after Q3 beat, raising lower end of sales target

By Reuters News10:10 (UTC), 6 November 2026 Updated

** Shares in Italy's Pirelli PIRC.MI are up around 2.5% after the tyremaker posted Q3 results above estimates and raised the lower end of its 2026 sales target

** "Pirelli rounded off European tyremaker Q3 reporting with probably the best quarter of the lot," Bernstein says, pointing to beats on revenue and margin driven by a very strong mix

** Despite a worsening of wider market conditions, Pirelli now sees revenue between €6.85 billion and €6.95 billion, closer to the upper end of its previously announced range

** Citi says Q4 EBIT margin is now seen at 16.3%, ahead of consensus at 15.5%

** "We see the key debate from here being whether there is any EBIT growth potential into 2027 given raw material headwinds, freight/logistics/energy cost inflation also," the broker adds

** The stock is outperforming Italy's all-share index .FTITLMS, which trades down 0.5%

** Including Friday's gains, Pirelli shares are up 17% YTD