- (PLX AI) - Continental's guidance for sales and earnings is too optimistic given the lower automotive market forecasts from IHS Markit, analysts at Bank of America said.
- • Continental cut to neutral from buy, price target cut to EUR 105 from EUR 146 at BofA
- • The Vitesco spin-off was positive and it increases the focus on Continental's core competencies, but in the short-term the lower global automotive forecasts will affect the company in all its segments, BofA said
- • NOTE: French car parts maker Faurecia cut its sales and margin guidance this morning due to the lower IHS forecasts