Analysts support Continental AG reform programme
Google, share profile, 02/09/20Financial analysts are reacting positively to the far-reaching restructuring measures announced by Continental AG yesterday that could cost up to 22 per cent of the 59,000 jobs in Germany alone.
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Michelin, Conti “well positioned” for market change: Goldman Sachs
GoogleMichelin and Continental stocks are rising, despite the severe impact of the coronavirus pandemic and governmental lockdowns on demand. US investment bank Goldman Sachs today raised the target price of shares in the two manufacturers, rating Michelin as ‘Buy’ and Continental as ‘Neutral’. In his two research notes, Goldman analyst George Galliers increased Michelin stocks’ target price from 91 euros to 113 euros, and Conti’s from 75 euros to 92 euros.
Titan puts Italtractor subsidiary up for sale
Titan International, Inc. has engaged Goldman, Sachs & Co. to advise on the sale of its Italtractor ITM S.p.A. subsidiary on 25 April 2016. The news follows the announcement that the firm had established a special committee of its board of directors to review and analyze the issues relating to the possible sale of ITM. These moves and the language of the legal disclaimers attached to the official statements announcing them suggest Italtractor is now well and truly up for sale.
