Continental: Stifel still a buyer, trims TP

(CercleFinance.com) - Stifel maintains its Buy rating on Continental shares, with a price target reduced from E86 to E85 (cp: E61, +3.
5%).

The analyst believes that the Auto margin target of 3%-4% remains a challenge.

Nevertheless, Stifel believes that Continental could come close, provided it can secure further price cuts and lower fixed costs in the second half of 2024.

We forecast an adjusted EBIT margin of 2.9% for Auto, against a VisibleAlpha consensus of 2.5%, the broker summarizes.


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