In a report released today, Marc Rene Tonn from Warburg Research maintained a Buy rating on Continental Aktiengesellschaft (CTTAF), with a price target of EUR111.00. The company’s shares closed last Wednesday at $123.71.
Tonn has an average return of 7.9% when recommending Continental Aktiengesellschaft.
According to TipRanks.com, Tonn is ranked #2248 out of 7011 analysts.
Continental Aktiengesellschaft has an analyst consensus of Hold, with a price target consensus of $115.14, which is a -6.7% downside from current levels. In a report issued on October 16, HSBC also upgraded the stock to Buy with a EUR120.00 price target.
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Based on Continental Aktiengesellschaft’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.62 billion and GAAP net loss of $741 million. In comparison, last year the company earned revenue of $11.26 billion and had a net profit of $485 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.
