Stifel maintains its Buy rating on Continental shares, with an unchanged target price of 85 euros.

Group sales for Q2 came in at E10bn, 3.4% below the VisibleAlpha consensus, while adjusted EBIT of E704m was fully in line with Stifel's expectations, and some 2.6% ahead of consensus.

Continental has made a number of adjustments to its outlook for FY24.

Group sales are now expected to be between 40 and 42.5 billion euros (vs. 41 to 44 billion euros previously), with Automotive sales expected to be between 19.5 and 21 billion euros (vs. 20 to 22 billion euros) and Tire sales between 13.5 and 14.5 billion euros (instead of 14 to 15 billion euros).

Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as decision-making aids for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.