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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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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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
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).
Copyright (c) 2024 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.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.