Continental: Oddo deems Q1 'unsurprising' - still neutral
(CercleFinance.com) - On Friday morning, analysts at Oddo BHF confirmed their "neutral" recommendation on the Continental stock, after what they say is an unsurprising Q1, despite visibility that is still lacking.
While Q2 and H2 remain very uncertain, it still seems too early for us to return to Continental. Indeed, while we are convinced that the OEM can emerge stronger and has clear strengths over the medium term (product portfolio, spin-off, tyre and ContiTech exposure), Oddo prefers to wait until it has better visibility over the coming months (environment, restructuring, FCF). It therefore still prefers Plastic Omnium amongst OEMs.
Oddo BHF also confirms its target share price of 70 euros, meaning upside potential of 7%.
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