FRANKFURT (dpa-AFX Broker) - After a strong performance in recent months, shares of Continental are expected to extend their latest pullback on Wednesday.
On Tradegate, the stock dropped by two percent in early trading to €65.90 compared to Tuesday's Xetra close. In regular trading, this would mark the lowest level since early February. Additionally, the share price would slip below the 100-day moving average, a key indicator of the medium-term trend.
The company's target ranges for revenue and margin in its tire segment this year imply, at the respective midpoints, an operating result (Ebit) of €1.9 billion.
That would be five percent below the consensus estimate of €2 billion, analyst Michael Aspinall of Jefferies wrote in an initial assessment. After the stock's strong run, he expects a period of consolidation./bek/stk
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