In a report issued on April 30, Jose Asumendi from J.P. Morgan maintained a Buy rating on Continental Aktiengesellschaft (CTTAF), with a price target of EUR150.00. The company’s shares closed last Monday at $133.51.
According to TipRanks.com, Asumendi is a 4-star analyst with an average return of 11.7% and a 56.7% success rate. Asumendi covers the Consumer Goods sector, focusing on stocks such as Compagnie Générale des Établissements Michelin, Bayerische Motoren Werke Aktiengesellschaft, and Stellantis.
Continental Aktiengesellschaft has an analyst consensus of Moderate Buy, with a price target consensus of $156.45, representing a 15.8% upside. In a report issued on April 15, UBS also maintained a Buy rating on the stock with a EUR154.00 price target.
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Based on Continental Aktiengesellschaft’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $10.89 billion and net profit of $206 million. In comparison, last year the company earned revenue of $11.06 billion and had a GAAP net loss of $299 million.
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Continental AG is a holding company, which engages in the manufacture and sale of soft rubber products, rubberized fabrics, and solid tires. It operates through the following segments: Chassis and Safety, Powertrain, Interior, Tires, ContiTech, and Other or Consolidation. The Chassis and Safety segment develops, produces, and markets intelligent systems to improve driving safety and vehicle dynamics. The Powertrains segment integrates system solutions for the powertrains. The Interior segment provides information management for vehicles; and develops and produces communication, and network solutions. The Tires segment offers reduction of fuel consumption by minimizing rolling resistance. The ContiTech segment covers the development, manufacture, and market of products for the machine and plant engineering, mining, and automotive industry. The Other or Consolidation segment represents the centrally managed subsidiaries and affiliates including holding, financing, and insurance companies. The company was founded on October 8, 1871 and is headquartered in Hanover, Germany.