Continental: Oddo stays neutral - expects a 'difficult' year
(CercleFinance.com) - This morning an analyst at Oddo BHF confirms his "neutral" rating the Continental group share, expecting the equipment supplier to have another difficult year in 2020.
After 2019, which was already very difficult, 2020 promises to remain tricky for the automotive equipment supplier (adjusted EBIT of 3,318 million euros e, OM of 7.4% e), taking into account an environment that is still gloomy in the automobile sector (lower visibility, production down, a limited outperformance and capex that remain high) and a Rubber business that is also under pressure, the broker explains.
Cuting its estimates for the group, Oddo BHF has lowered its target price for Continental from 115 euros to 105 euros, which is pretty much in line with the share's current price (token upside of just 2%).
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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.
After 2019, which was already very difficult, 2020 promises to remain tricky for the automotive equipment supplier (adjusted EBIT of 3,318 million euros e, OM of 7.4% e), taking into account an environment that is still gloomy in the automobile sector (lower visibility, production down, a limited outperformance and capex that remain high) and a Rubber business that is also under pressure, the broker explains.
Cuting its estimates for the group, Oddo BHF has lowered its target price for Continental from 115 euros to 105 euros, which is pretty much in line with the share's current price (token upside of just 2%).
Copyright (c) 2020 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.