FRANKFURT (dpa-AFX) - A pessimistic analyst opinion weighed on Auto1 shares on Wednesday. In early trading, the share price fell by 3.4 percent after it had soared by up to a good 40 percent since the record low in mid-December. The current losses were triggered by an initial rating of "underweight" by the US bank Morgan Stanley.

In a study published on Wednesday, the analysts are generally optimistic about the European internet sector. However, they favor companies that are at a turning point in terms of profitability or where an already good profit dynamic is combined with an attractive valuation.

However, they describe e-commerce providers such as Auto1 as a subgroup with the greatest downside potential. Stimulating growth is expensive for the car dealer. Compared to consensus expectations, the company will therefore need two to three years longer to achieve a balance between growth and profitability./tih/mis