Goldman Sachs analyst Lisa Yang downgraded Auto1 Group to Neutral from Buy with a price target of EUR 10.6, down from EUR 10.8 as part of a broader research note on European Internet and Media names. The company has generated a significant improvement in Autohero GPU through 2022, but its near to medium term consensus growth expectations are likely to be reset in light of the ongoing pressure in used car markets impacting the Merchants business, a weak consumer environment and reduced marketing investments, the analyst tells investors in a research note.
Published first on TheFly
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