Continental: Barclays cuts target price

(CercleFinance.com) - While maintaining its "weight in line" recommendation on the Continental share, Barclays has cut its target price from 155 euros to 150 euros to reflect its new EPS estimates for 2019-2020 (on average -3% p.
a.).

"While we remain positive about its long-term positioning on mega-trends, we believe Continental lacks top-line and earnings momentum in the short term," the broker says.

However, Barclays believes that the German automotive supplier's ability to continue to generate decent free cash flows in difficult times and increase its dividends, remains "very encouraging".



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