NEW YORK (dpa-AFX Broker) - The US bank JPMorgan has downgraded Auto1 from "Overweight" to "Neutral" and lowered its price target from 10.30 to 6.30 euros. After the European internet sector barely recovered from the previous year's setback in 2023, he expects an improvement in 2024, wrote analyst Marcus Diebel in an industry outlook published on Wednesday. He is counting on the now significantly lower expectations, an increase in profitability and cash inflows, a further decline in bond yields and an increase in mergers and acquisitions. Diebel's preferred stocks are Hellofresh, Delivery Hero, CTS Eventim, Trainline and Stroer. THG, Auto Trader and JCDecaux are comparatively unattractive. He continues to see good structural opportunities for Auto1 in the long term, but at operating level (EBIT) the break-even point is probably still not in sight./gl/edh

Publication of the original study: 05.12.2023 / 21:42 / GMT First dissemination of the original study: 06.12.2023 / 00:15 / GMT

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