Auction Technology rises after JP Morgan reinstates coverage with 'Overweight' rating

Auction Technology

09/02/2026 09:07

** Shares of online auction operator Auction Technology Group ATG.L up 4.8% at 305.5p, among top gainers on FTSE smallcaps index .FTSC

** JP Morgan reinstates 'Overweight' rating on stock and sets price target of 665p

** Brokerage now sees the business at a turning point and positioned to deliver a more stable and competitive earnings trajectory

** "Overall, we sit in-line with company-consensus on FY26E, and would argue that a strong set-up for H1 has largely de-risked estimates into the second half," - JP Morgan

** For FY 2026, ATG expects revenue of $238 million-$245.7 million and adjusted EBITDA of $82.9 million-$87 million

** So far in 2026, the stock gained ~11%

(Reporting by Neeshita Beura in Bengaluru)

((Neeshita.Beura@thomsonreuters.com))