Continental Aktiengesellschaft (CTTAF) Gets a Buy Rating from DZ BANK AG

By Austin Angelo

DZ BANK AG analyst Michael Punzet maintained a Buy rating on Continental Aktiengesellschaft (CTTAFResearch Report) today. The company’s shares closed last Wednesday at $115.02.

Punzet has an average return of 27.9% when recommending Continental Aktiengesellschaft.

According to TipRanks.com, Punzet is ranked #2944 out of 6892 analysts.

The word on The Street in general, suggests a Hold analyst consensus rating for Continental Aktiengesellschaft with a $99.27 average price target, a -8.2% downside from current levels. In a report issued on August 6, Warburg Research also maintained a Buy rating on the stock with a EUR110.00 price target.

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Based on Continental Aktiengesellschaft’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $9.84 billion and net profit of $292 million. In comparison, last year the company earned revenue of $11.26 billion and had a net profit of $485 million.

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Continental AG is a holding company, which engages in the manufacture and sale of soft rubber products, rubberized fabrics, and solid tires. It operates through the following segments: Chassis and Safety, Powertrain, Interior, Tires, ContiTech, and Other or Consolidation. The Chassis and Safety segment develops, produces, and markets intelligent systems to improve driving safety and vehicle dynamics. The Powertrains segment integrates system solutions for the powertrains. The Interior segment provides information management for vehicles; and develops and produces communication, and network solutions. The Tires segment offers reduction of fuel consumption by minimizing rolling resistance. The ContiTech segment covers the development, manufacture, and market of products for the machine and plant engineering, mining, and automotive industry. The Other or Consolidation segment represents the centrally managed subsidiaries and affiliates including holding, financing, and insurance companies. The company was founded on October 8, 1871 and is headquartered in Hanover, Germany.