Continental: Invest Securities upgrades share
(CercleFinance.com) - Invest Securities has upgraded its rating on the Continental share from "neutral" to "buy," even though it has cut its corresponding target price from 89 euros to 77 euros, after slashing its 2020 estimates for the German automotive supplier.
The suspension of guidance in the current context, which is indeed unprecedented, comes as no surprise. The analyst warns that preliminary results for Q1 2020, although down, are at least positive in terms of consolidated EBITA, will again be bad in the second quarter.
However, he indicates that his scenario and sequencing lead him to anticipate a return to normal in 2021. He adds that the group has the means to resist in 2020, and that everything will be done to preserve the group's cash and financial structure.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The suspension of guidance in the current context, which is indeed unprecedented, comes as no surprise. The analyst warns that preliminary results for Q1 2020, although down, are at least positive in terms of consolidated EBITA, will again be bad in the second quarter.
However, he indicates that his scenario and sequencing lead him to anticipate a return to normal in 2021. He adds that the group has the means to resist in 2020, and that everything will be done to preserve the group's cash and financial structure.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.