NEW YORK (dpa-AFX Broker) - Analysts Jefferies downgraded Continental to "hold" from "buy" and cut its price target to 70 euros from 83 euros. The market is overestimating its ability to pass on the extraordinary rise in costs, analysts Himanshu Agarwal and Philippe Houchois wrote in an industry report available Friday. In a year when automakers are cutting prices to boost demand, suppliers may not have it all either - high sales volumes and good prices. The experts cut their estimates in the sector by more than 15 percent and are now well below consensus. In descending order, they favor tire manufacturers over truck suppliers and the latter over car suppliers./ag/ajx

Original study published: 01/19/2023 / 17:19 / ET Original study first shared: 01/19/2023 / 19:05 / ET