BIT:PIAAuto
Piaggio (BIT:PIA) Stock Rich Valuation Meets Profit Rebuild And Margin Strain
Piaggio & C entered this earnings day with the stock up strongly over the past month, yet still trading at about €1.91 and on a richer P/E than both the global auto industry and its closest peers. The market had priced in a lot of hope. The headline tonight is that Q2 did the heavy lifting on profit. Basic earnings per share jumped to €0.0708 on revenue of €500.2m, which is a clear step up from the prior two quarters. The question now is whether that profit rebuild is enough to justify an...