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via finance.yahoo.comBusiness & Companies

Bernstein upgrades Continental to outperform citing post-deal valuation discount

FROM THE WIRE · FINANCE.YAHOO.COM

Investing.com -- Bernstein upgraded tyre maker Continental AG to "outperform" from "Market-Perform" and raised its price target to €82 from €74, calling it its "top pick" in the tyre industry and citing a valuation discount to rivals after planned asset sales. Before you buy…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bullishAnalyst upgrade based on relative valuation; relevant for the stock but not broader markets.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Bernstein upgraded Continental from Market-Perform to Outperform with price target of €82 from €74.
  2. 02Continental trades at 7.3x EV/EBIT, showing 10% discount to Michelin after planned asset sales.
  3. 03Bernstein expects the valuation gap to close within six months.
  4. 04Continental was named top pick in the tyre industry.
NEWS IMPACT AND MARKET REACTIONChange from the reference price
Continental AGCON.XETRAStock68.84 EUR+0.79%today -2.08%Positive
Impact and summary are estimates by the News Impact AI agent, not financial advice.Open in Markets

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