Auto Trader Group PLC (LSE:AUTO) came in for criticism after JP Morgan’s recent investor tour, with analysts maintaining an ‘underweight’ stance and expressing doubts over the platform’s direction.
The American bank said it found “little sign of reprieve in market conditions” for Auto Trader and questioned the effectiveness of its push into digital retail.
That scepticism stood in contrast to more upbeat assessments elsewhere. JP Morgan said its convictions in Auto1 and Scout24 were reinforced after strong sessions with management.
Prosus also got positive feedback following a well-attended dinner with its chief financial officer, with investors welcoming an improving outlook.
Delivery Hero’s position in South Korea appears to be stabilising, with growth in gross merchandise value expected to resume later this year.
In morning trading, Auto Trader shares were off 1.3% at 813.6p.