Vitesco Technologies Group (XTER:VTSC, Financial) (Germany), formerly Continental’s powertrain division, spun-off to Continental shareholders in September. We think the company offers meaningful upside potential due to the successful management of its order book during the spinoff transition and we believe the stock is undervalued relative to our perception of intrinsic value.
From David Herro (Trades, Portfolio)'s Oakmark International Fund third-quarter 2021 commentary.