Share price increases by more than 70% since beginning of the year
(PresseBox) (Hannover, )Since the start of trading today, the Continental AG share has been listed in the top Deutsche Börse segment again, having returned to the category of the most valuable listed companies in Germany after a good four years. The international automotive supplier is the first company to succeed in being promoted back to the top stock exchange category in Germany for the second time. In 2003, after a 15-year abstinence, the founding member of the DAX had returned to it for the first time when the company's strategic realignment as an international automotive supplier began to bear fruit.
From the beginning of 2009, Continental was listed in the MDAX, partly because the volume of freely tradable shares at that time, amounting to just over 10%, was no longer sufficient to fulfill the necessary criteria for membership in the DAX with regard to market capitalization and trading volume. Since the end of 2008, its market capitalization has risen from €4.6 billion to more than €16.8 billion. Over the past twelve months, the trading volume that is relevant to index selection amounted to over €9 billion on average. The criteria for membership in the DAX were thus clearly fulfilled.
The international automotive supplier's share price has risen by more than 70% since the beginning of the year to €83.61. Equity analysts anticipate an average target price of €90 for the Continental share, and at the high end as much as €126.
Continental Reifen Deutschland GmbH Büttner Straße 25 D-30165Hannover