Citi upgrades Auto Trader to ‘buy’ from ‘neutral’.
Citi upgraded Auto Trader to ‘buy’ from ‘neutral’ on Thursday and lifted the price target to 946p from 881p as it said it was in "pole position to outperform".
Auto Trader Group
23 January 2025 13:27:48
Source: Sharecast
"We consider the outlook for Online Classifieds in 2025 and expect more challenged macro trends to support outperformance in autos classifieds," the bank said.
Citi said its ‘buy’ rating on Auto Trader is driven by the fact the company is well-positioned to benefit from the current macro environment, as car shortages continue to drive demand, supporting car prices and used car dealers.
In addition, the bank sees potential upside from Auto Trader’s expansion of Deal Builder and work to expand its product offering.
Finally, it said competition remains a "peripheral factor" relative to the property classifieds.
Halifax is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.
