HAMBURG (dpa-AFX Broker) - The private bank Berenberg has upgraded Continental from "Hold" to "Buy" and raised its price target from 68 to 83 euros. After years of weak development in the automotive division, he is now more confident about it, analyst Romain Gourvil wrote in a study published on Tuesday. Margins should pick up again after 2023 thanks to the restructuring. Improved efficiency in research and development will offset inflationary burdens and weaker global growth. Looking ahead to 2024, the risk/reward ratio is now convincing./bek/ajx

Publication of the original study: 27.11.2023 / 17:07 / GMT

First dissemination of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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