Morgan Stanley Raises Conti Share Target Twice in Four Weeks

Morgan Stanley has raised its price target for Continental shares from 60 to 69 Euros, up 15 per cent. The announcement marks the second time that Morgan Stanley has increased the share target in four weeks. In February, the first increase saw the bank raise the goal from 52 to 60 euros. The analysts believe that this positive run will continue over the coming months and years. They expect earnings per share (EPS) to increase to 5.60 euros (14 per cent more than originally expected) in 2005, and up to 5.90 euros in 2006.