Continental AG
CON: XETR (DEU)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€389.00 | Ckjqbj | Brbrfcslv |
Continental Earnings: A Significant Improvement in Profitability, but Below Expectations
Continental posted a significant improvement in profitability. However, the turnaround is below market expectations. The replacement market helped offset weak new vehicle production numbers—with widespread postponement of new model launches—in the first half. The opposite is expected in the second half. On balance, full-year guidance has been reduced marginally. Our forecast was already on the lower end of the company’s prior guidance. Thus, we keep our fair value estimate unchanged.