Continental: shares up after Barclays upgrade

(CercleFinance.com) - Shares of German auto parts maker Continental are up 2.
4% on Monday, the second biggest winner in Germany's DAX index, after Barclays upgraded the stock to "equal weight."

The broker says Conti's third quarter results showed the company is "back in business".

"Helped by volumes recovery and cost discipline across the board, a softer Automotive Technologies (AT) performance (...) was more than offset by an impressive return to a mid-teens margin level in Rubber (...), a level not seen at Conti since late 2017," Barclays analysts said.

Note that Continental shares have fallen by 5% year-to-date, underperforming a 0.7% decline for the DAX index.

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