Continental: Stifel raises target price
(CercleFinance.com) - Stifel reinstates its "buy" rating on the Continental stock, having increased its corresponding target price to 144 euros (currently trading at 117.
6 euros, +0.8%), in the wake of an 8% increase in 2021-22 EPS estimates for the German tyre and automotive component supplier.
The broker sees the upcoming Investor Days (8-16 December), a change in management, its split from Vitesco (potentially in Q2 2021) and potentially a new set of targets as factors that could further boost the share's valuation.
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