Continental: I'm A Bit More Neutral (Rating Downgrade)
Continental Aktiengesellschaft has been downgraded to a 'Hold' rating with a target price of €60 per share. This decision comes as the company faces a lack of growth catalysts following its recent spin-off. The downgrade reflects concerns over the sustainability of earnings and increased vulnerability in the tire business sector.
- ▪Continental has been downgraded to 'Hold' with a new price target of €60 per share.
- ▪The recent earnings beat was attributed to non-recurring cost savings and price increases.
- ▪The spin-off of the automotive segment has left Continental as a pure-play tire business, heightening its exposure to industry challenges.
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