Conti returns to DAX today
Since the start of trading today, the Continental AG share has again been listed in the top Deutsche Börse segment, having returned to the list of top German companies after an absence of almost four years. The company is the first to succeed in being promoted back to the DAX 30 twice.
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 ten per cent, was no longer sufficient to fulfil 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 euros. Over the past twelve months, the trading volume relevant to index selection amounted to over 9 billion euros 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 per cent since the beginning of the year to 83.61 euros. Equity analysts anticipate an average target price of 90 euros for the Continental share, and at the high end as much as 126 euros.