Continental: Oddo BHF remains underperform

(CercleFinance.com) - Oddo BHF reiterates its 'underperform' rating and 60-euro price target on Continental, despite a positive statement from its management, with the analyst awaiting 'possible confirmation in the coming quarters in order to become more constructive'.


While yesterday's announcement was undeniably a pleasant surprise, it nonetheless raises questions about the lack of visibility and volatility of the equipment manufacturer's results", he explains, also pointing to an environment that remains difficult.

From a sector standpoint, the research department still prefers a tire 'pure player' like Michelin, and believes that the German group's read-across on the tire segment is positive (operating margin up sharply in the second quarter).

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