Pirelli stock: Pirelli signs India tire deal. Morgan Stanley targets Pirelli stock at EUR 6.50

Published on 10/24/2026 at 02:40 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Pirelli and BKT plan 800,000 India tires by 2030. Morgan Stanley keeps Hold and a EUR 6.50 target for Pirelli stock dated October 20, 2026.

India expansion and earnings calendar

Pirelli and BKT signed an India agreement for up to 800,000 tires on October 22, 2026.
Pirelli reported EUR 3.5 billion in first-half 2026 revenue and a 16.00 percent adjusted EBIT margin.
Pirelli will review its first nine months of 2026 on November 5, 2026.

Moderne Reifenfabrik mit Robotern, Arbeitern und Mailand-Skyline im Hintergrund — Fotorealistische Reifenfabrik zeigt Pirelli & C. S.p.A. (IT0004623051) mit Robotern und Mailänder Skyline im Hintergrund, Illustration mit AI erstellt.

Pirelli (ISIN IT0005278236) signed an agreement with Balkrishna Industries, known as BKT, for up to 800,000 Pirelli-branded premium car tires in India by 2030. The company said on October 22, 2026, that the plan also envisages a 50-50 joint venture and a dedicated plant, according to Pirelli.

India adds a production option

The first phase is an offtake agreement under which BKT will manufacture the tires at a newly built plant using Pirelli technology and quality standards. The proposed second phase would create equal ownership of a new facility for high-value car tires serving India and international markets.

The agreement gives Pirelli a manufacturing route in a country where it has previously had a commercial presence. That distinction matters because the deal combines local production capacity with Pirelli's high-value positioning, while the definitive joint venture remains subject to conditions.

What does the target signal?

Morgan Stanley maintained a Hold rating and set a EUR 6.50 price target on October 20, 2026, according to Markets Insider. The target places the analyst view below the EUR 7.20 average target cited in the same report, leaving the India plan to be assessed alongside execution and demand risks.

Three milestones shape Pirelli

On July 29, 2026, Pirelli reported first-half revenue of EUR 3.5 billion, adjusted EBIT of EUR 558 million and a 16.00 percent margin in its results call, according to Yahoo Finance. On October 20, Morgan Stanley set its EUR 6.50 target. On October 22, Pirelli and BKT announced the 800,000-tire India agreement.

Dates that matter next

Pirelli is scheduled to review its first nine months of 2026 on November 5, 2026, according to SoldiOnline. The proposed joint venture's incorporation is targeted by December 31, 2030, according to the Pirelli announcement.

November results will test guidance

The November review will provide the next dated operating check on the strategy, while the India agreement sets a longer-term manufacturing milestone. The further course of trading is shown by the continuously updated real-time quote of Pirelli stock.