2016 en ligne, guidances et enjeux 2017 confirmés - NEUTRE - OC 186€
Le groupe a confirmé ses résultats et ses guidances déjà dévoilés le 9 janvier dernier. Les guidances 2017 sont ainsi maintenues avec une inflexion sur l’impact matières premières. Les tendances 2017 restent en ligne avec nos estimations ajustées de cette publication. Plus précisément, nous avons relevé nos estimations « top line » de la division auto mais restons prudents sur sa marge d’EBITA. Enfin, la marge des activités Pneu devrait se tasser en 2017. Au total, nos estimations de BNA 2017/18 sont marginalement relevées (+2%/+1,5%). Notre objectif de cours est inchangé à 186€. Opinion Neutre réitérée.Continental is an automotive industry supplier. Co.'s automotive divisions comprised of: Chassis & Safety, which develops and produces systems that provide safety and enhanced vehicle dynamics; Powertrain, which develops solutions for gasoline and diesel engines, as well as hybrid and electrical drive systems; and Interior, which provides solutions for information management within vehicles and networking between vehicles. Co.'s rubber divisions comprised of: Tires, which provides tires for passenger cars through trucks, buses and construction site vehicles to special vehicles, motorcycles and bicycles; and ContiTech, which develops products made from rubber and plastic.
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Consisting of 13 different profiles (pharmacist, engineer, financier, etc), the DNA of our financial analysis office is value added and sector expertise. Through daily monitoring and detailed analyses of companies and sectors, we seek to provide a differentiating vision of our 120 stocks followed. Our ideas are circulated every day to nearly 1,000 professionals.
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