Continental Aktiengesellschaft (CTTAF) Receives a Hold from J.P. Morgan

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In a report released yesterday, Jose Asumendi from J.P. Morgan maintained a Hold rating on Continental Aktiengesellschaft (CTTAFResearch Report), with a price target of EUR76.00. The company’s shares closed last Friday at $70.18, close to its 52-week low of $61.72.

According to TipRanks.com, Asumendi is a 4-star analyst with an average return of 4.4% and a 46.2% success rate. Asumendi covers the Industrial Goods sector, focusing on stocks such as Vitesco Technologies Group AG, FREYR Battery, and QuantumScape.

Continental Aktiengesellschaft has an analyst consensus of Hold, with a price target consensus of $91.30.

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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 $8.8 billion and net profit of $153 million. In comparison, last year the company earned revenue of $9.12 billion and had a net profit of $206 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.

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