Continental: Stifel confirms Buy rating

(CercleFinance.com) - Stifel maintains its Buy rating on Continental shares, with an unchanged target price of E85.


Group Q2 sales came in at E10bn, 3.4% below the VisibleAlpha consensus, while adjusted EBIT of E704m was fully in line with Stifel's expectations, and some 2.6% ahead of consensus.

Continental has made a number of adjustments to its outlook for FY24.

Group sales are now expected between E40bn and E42.5bn (vs. E41bn to E44bn previously), with Automotive sales expected between E19.5bn and E21bn (vs. E20bn to E22bn) and Tyre sales between E13.5bn to E14.5bn (instead of E14bn to E15bn).


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