Stifel maintains its Buy rating on Continental shares, with a price target reduced from €86 to €85.

The analyst believes that the Auto margin target of 3-4% 'remains a challenge'.

Nevertheless, Stifel believes that Continental could come close, provided it can secure further price cuts and lower fixed costs in the second half of 2024.

We forecast an adjusted EBIT margin of 2.9% for Auto, against a VisibleAlpha consensus of 2.5%", summarizes the broker.

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