NEW YORK (dpa-AFX Broker) - The US analyst firm Bernstein Research has initiated an "Underperform" rating on Continental shares with a target price of 54 euros. Tires are a highly attractive part of the automotive value chain, wrote new analyst Harry Martin in an industry report published on Tuesday. For example, cyclicality is low because the majority of sales are generated in the replacement tire business. However, Continental is experiencing "great pain" in the supplier business. The company has been particularly affected by manufacturers' new software architectures, which have completely changed the old supplier hierarchies./ag/bek

Publication of the original study: 06/03/2024 / 15:02 / UTC

First dissemination of the original study: 04/06/2024 / 15:30 / UTC

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