Continentalgains over 7% in Frankfurt, while Stifel maintains its buy rating on the stock with an unchanged target price of 85 euros.

Group sales for Q2 came in at 10 BnE, 3.4% below the VisibleAlpha consensus, while adjusted EBIT of 704 ME 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 E40 and E42.5 bn (vs. E41 to E44 bn previously), with Automotive sales expected to be between E19.5 and E21 bn (vs. E20 to E22 bn) and Tires between E13.5 and E14.5 bn (instead of E14 to E15 bn).

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