Continental AG upgraded to Buy from Hold at Berenberg

Berenberg upgraded Continental AG to Buy from Hold with a price target of EUR 83, up from EUR 68. After years of underwhelming operational performance in Continental’s automotive segment, the firm is becoming more confident about the growing margins trajectory beyond 2023, the analyst tells investors in a research note. The firm says the stock now offers a compelling risk/reward profile, as well as portfolio optionality backed by a relatively inexpensive valuation.