NEW YORK (dpa-AFX) - U.S. investment bank Goldman Sachs upgraded Continental to "neutral" from "sell" and raised its price target to 70 euros from 69 euros. It is the general view of investors that the European automotive industry is facing a period of subdued sales and price trends, analyst George Galliers wrote in an industry report available Monday. However, he takes a more constructive approach to the sector than the investor crowd. Investors would have to be selective in the supplier sector. He removed his sell recommendation on Continental due to solid cash performance in the tire business and the potential to simplify the portfolio./tih/ck

Publication of the original study: 18.09.2023 / 04:59 / BST

First disclosure of original study: Date not stated in study / Time not stated in study / Time zone not stated in study

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