Continental Share: Will It Go Up in 2024?

Last Updated: 30. Januar 2024By

Continental stock performed well in the past trading year. However, since the beginning of the year, the stock has been slightly down and even in the past few years, things have not gone smoothly for the automotive supplier. Nevertheless, with a current price of over 75 euros, the Continental stock is trading almost 30 percent higher than about three months ago (as of January 30, 2024, 11 am).

Now, a new analysis by JPMorgan is causing optimism: The US bank is confident about the Conti stock and has confirmed the target price of 100 euros. Based on the current price, this would mean more than 30 percent potential for the stock. Investors should now keep an eye on the Q4 numbers in March and the forecast for the current year – this could have an impact on the Continental stock.

JPMorgan looks optimistically at Continental After the numbers for the third quarter, the DAX company has specified or slightly reduced its forecast for 2023. Conti expects sales of between 41 and 43 billion euros for the full year. The US bank JPMorgan sees the revenues rather at the upper end of the range. JPMorgan estimates the operating margin for 2023 at 6.4 percent.

After only 9 months, it has become clear that Continental had to adjust its sales forecast. At the same time, the DAX company increased profitability, even in the Automotive division which had been struggling in recent years. If the company can continue this trend in 2024, the Conti stock has potential.

Continental stock: What are Conti’s plans for 2024? In order to become even more profitable in the future, Continental plans to save 400 million euros annually in costs in the Automotive division starting in 2025. Streamlined structures are also expected to lead to faster decision-making processes. However, investors and analysts are still waiting for concrete goals and forecasts for the current year.

On March 7, Conti will present the figures for the fourth quarter and thus also for the full year 2023. Whether the target ranges for sales and EBIT margin were achieved will be shown here at the latest. However, even more exciting for investors is the outlook for the current year 2024. If the company announces ambitious goals, this could also give the Continental stock a boost.