NEW YORK (dpa-AFX Broker) - U.S. investment bank Goldman Sachs raised its price target for Continental from 52 to 59 euros, but left its rating at "sell." Demand for replacement tires weakened again in the final quarter, analyst Philipp Konig wrote in an industry report published Tuesday. However, business momentum should normalize from the second quarter. Looking ahead to 2023, however, Konig believes only Michelin can increase profits - he predicts stagnation for Pirelli and a decline for Continental in the tire business./gl/mis

Publication of the original study: 06.02.2023 / 20:33 / GMT First transmission of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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