Continental: Invest Securities raises target price

(CercleFinance.com) - Invest Securities reiterates its "buy" rating on Continental share, having increased its corresponding target price from 122 euros to 147 euros, hailing the effort of transparency, consistency and convincing nature of the seven sessions of a very detailed CMD.


The group has been able to address its shortcomings, which had resulted in the erosion of its profitability since 2017, the analyst said, for whom medium-term guidance now shows that the group is now on track to recover after a “particular” year in 2020.

The broker has adjusted its 2020-2022 EPS estimates for the German tyre maker, while, after 2022, it has raised its sales growth estimates to +5% p.a., compared to +3% previously, while it has increased its EBITA margin estimate to 9%, from 7.5% previously.


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