Continental: Morgan Stanley still upbeat on shares
(CercleFinance.com) - Morgan Stanley maintains its "overweight" rating on Continental, with a target price of 245 euros, describing the German auto parts maker as "the next autonomous play.
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The US broker thinks that autonomous driving assets are being re-rated after General Motors's autonomous vehicle project Cruise received a massive investment from Japan's SoftBank.
"We think Conti should follow," Morgan Stanley says, noting that the equipment maker is number one in sensors, while having expertise in software since the Elektrobit/Argus acquisitions.
"At 220 euros, risk/reward is skewed to the upside into the August strategic review," the broker wrote in a research note.
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.
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The US broker thinks that autonomous driving assets are being re-rated after General Motors's autonomous vehicle project Cruise received a massive investment from Japan's SoftBank.
"We think Conti should follow," Morgan Stanley says, noting that the equipment maker is number one in sensors, while having expertise in software since the Elektrobit/Argus acquisitions.
"At 220 euros, risk/reward is skewed to the upside into the August strategic review," the broker wrote in a research note.
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.