Research Center
Quay lại

DRC [M-PF -6.6%], CSM [M-PF -2.6%] - H1 2016 results re-affirmed our muted view on DRC and CSM - Update

We reiterate a MARKET PERFORM rating on both DRC (M-PF, -7.8%) and CSM (M-PF, -1.8%). We have chosen to review DRC and CSM side-by-side because, even though they focus on different product categories - heavy truck tires being DRC’s largest contributor while light truck and motorbike tires are CSM’s bread and butter - these companies are affected by similar challenges that are undermining their profitability, especially price competition.