Monday, 2 October 2023

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Goldman Sachs upgrades Continental Aktiengesellschaft (CTTAF) to a Hold – TipRanks Financial Blog

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In a report released today, George Galliers from Goldman Sachs upgraded Continental Aktiengesellschaft (CTTAFResearch Report) to a Hold, with a price target of €70.00. The company’s shares closed last Friday at $70.20.

According to TipRanks, Galliers is a 4-star analyst with an average return of 3.5% and a 53.40% success rate. Galliers covers the Industrials sector, focusing on stocks such as Bayerische Motoren Werke Aktiengesellschaft, Mercedes-Benz Group, and Continental Aktiengesellschaft.

Currently, the analyst consensus on Continental Aktiengesellschaft is a Hold with an average price target of $82.19, implying a 17.08% upside from current levels. In a report released on September 6, UBS also maintained a Hold rating on the stock with a €67.00 price target.

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CTTAF market cap is currently $14.32B and has a P/E ratio of 19.68.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CTTAF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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