Continental: Stifel raises target price
(CercleFinance.com) - Stifel confirms its 'buy' recommendation on Continental, raising its target price for them from E76 to E85, on the heels of a quarterly publication that saw the group confirm its forecast for an automotive margin of 2.
5%-3.5%.
This confirmation, contrary to the broker's expectations, implies a margin of at least 7% in Q4 2024, a level which lends credibility to the current consensus for 2024-25.
Credible signs that restructuring efforts are finally bearing fruit, coupled with the potential demerger of the automotive division, could help unlock value, Stifel adds.
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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.
5%-3.5%.
This confirmation, contrary to the broker's expectations, implies a margin of at least 7% in Q4 2024, a level which lends credibility to the current consensus for 2024-25.
Credible signs that restructuring efforts are finally bearing fruit, coupled with the potential demerger of the automotive division, could help unlock value, Stifel adds.
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.