NEW YORK (dpa-AFX) - The US investment bank Morgan Stanley has added Auto1 to its rating with an "Underweight" and a target price of 4.60 euros. In an outlook published on Wednesday, analyst Miriam Josiah was nevertheless optimistic overall about the prospects for the European internet sector in 2024, betting on a return to order growth, continued cost discipline and support from valuations. Delivery Hero, Deliveroo and Prosus have shown a turnaround in profitability and rising sales, while Scout24, Trainline and Pearson scored with good earnings momentum. However, Josiah sees the biggest risks in the e-commerce companies Ocado, Auto1, AutoStore and Boohoo. The online used car dealer Auto1 will probably take two to three years longer than expected to find a balance between growth and profitability due to the necessary growth investments./gl/la

Publication of the original study: 03.01.2024 / 04:30 / GMT First dissemination of the original study: Date not specified in study / Time not specified in study / Time zone not specified in study

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