Continental: Stifel raises target price

(CercleFinance.com) - Stifel reiterates its buy rating on Continental shares, having raised its target price for them from 142 euros to 146 euros.


"1Q21 performance in Automotive Technologies was ahead of our expectations and despite higher cost headwinds in coming quarters, we think the 1-2% margin guidance is far from aggressive", the analyst says.

The analyst expects a "short-term upside to estimates" for the stock and believes that Continental is "a key stock to own" as, in the longer term, structural cost reductions will drive a margin rerating through FY 2022/23.

The share is currently up about 2% at about 114 euros in Frankfurt.


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