Continental: Invest Securities cuts target price
(CercleFinance.com) - Invest Securities maintains its "sell" rating on the Continental stock, with a reduced target price of 209 euros, against 224 euros previously, with the group impacted by a deterioration in market parameters.
However, analysts are maintaining their 2018/20 EPS estimates for the German automotive supplier, following the publication of in-line results, with no changes in 2018 targets after the announcement made in January.
Regarding the group's restructuring, management simply repeated that the first announcements will be made at the end of June, without it yet being possible to adopt a particular path, as there are several possibilities, the analyst added.
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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.
However, analysts are maintaining their 2018/20 EPS estimates for the German automotive supplier, following the publication of in-line results, with no changes in 2018 targets after the announcement made in January.
Regarding the group's restructuring, management simply repeated that the first announcements will be made at the end of June, without it yet being possible to adopt a particular path, as there are several possibilities, the analyst added.
Copyright (c) 2018 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.