UBS analyst David Lesne maintained a Hold rating on Continental Aktiengesellschaft (CTTAF) yesterday and set a price target of EUR62.00. The company’s shares closed last Tuesday at $75.50, close to its 52-week low of $57.00.
Lesne observed:
“ZuRICH (dpa-AFX Analyser) – Die Schweizer Grossbank UBS hat die Einstufung fur Continental auf “Neutral” mit einem Kursziel von 62 Euro belassen. Er bleibe fur Reifenhersteller vorsichtig, schrieb Analyst David Lesne in einer am Mittwoch vorliegenden Branchenstudie. Der Preis-Wettbewerb nehme zu. Und Reifen durften insgesamt weniger schnell ausgetauscht werden, weil in diesem Jahr weltweit weniger gefahren werde. Daher sinke die Nachfrage./ajx/mne
Veroffentlichung der Original-Studie: 07.04.2020 / 15:30 / BST Erstmalige Weitergabe der Original-Studie: 08.04.2020 / Uhrzeit in Studie nicht angegeben / GMT
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According to TipRanks.com, Lesne is ranked #5137 out of 6281 analysts.
Currently, the analyst consensus on Continental Aktiengesellschaft is a Hold with an average price target of $77.72, which is a 2.4% upside from current levels. In a report issued on March 26, Morgan Stanley also maintained a Hold rating on the stock with a EUR100.00 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 $11.06 billion and GAAP net loss of $299 million. In comparison, last year the company earned revenue of $11.23 billion and had a net profit of $712 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.
