Continental: Invest Securities cuts target price.
(CercleFinance.com) - Invest Securities is maintaining its "neutral" rating on Continental and is cutting its target price from 206 euros to 196 euros, after the German automotive supplier's results were marked by EBITA and FCF that fell short of expectations.
The analyst monitoring the share highlights a turnaround in the growth of its automotive business. He continues, saying that moreover, the impact of raw materials prices on its tyre business and the negative impact of integration of external growth in ContiTech have weighed on the group.
Despite the weakness in Q2 and uncertainty in H2, the brokers analysts are maintaining their 2017 EPS growth forecast at 12.5%, which is becoming "demanding" considering its performance in H1
(-8.7%).
Copyright (c) 2017 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 analyst monitoring the share highlights a turnaround in the growth of its automotive business. He continues, saying that moreover, the impact of raw materials prices on its tyre business and the negative impact of integration of external growth in ContiTech have weighed on the group.
Despite the weakness in Q2 and uncertainty in H2, the brokers analysts are maintaining their 2017 EPS growth forecast at 12.5%, which is becoming "demanding" considering its performance in H1
(-8.7%).
Copyright (c) 2017 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.