News Digest / Ticker: CTTAF

Ticker: CTTAF

06:00am, Tuesday, Aug 27, 2024

Continental AG Shares Surge 4.4% After UBS Upgrade: A Spin-Off Strategy with Promising Returns on the Horizon

Continental AG (ETR: CONG) saw its stock rise 4.4% to €62.42 after UBS upgraded its rating to "buy." The analysts praised Continental's plan to spin off its Automotive division, potentially boosting shareholder returns with dividends and buybacks of €6 billion by 2027.