Peel Hunt upgrades UK's Autotrader to 'buy', sees medium-term recovery
BUZZ-Peel Hunt upgrades UK's Autotrader to 'buy', sees medium-term recovery
** Peel Hunt upgrades stock rating on British automotive marketplace Autotrader AUTOA.L to "buy" from "add"
** We see scope for a medium-term recovery given its strong market position - Peel Hunt
** Brokerage trims PT to 630p from 890p, representing a 43.4% upside to the stock's last close
** AUTOA marginally up at 440.5p
** Brokerage says the company's positioning in the age of AI remains resilient, and sees AI as more likely to reinforce the AUTOA's role at the centre of the ecosystem than to displace it
** Average rating of sixteen analysts is "hold"; with a median PT of 570p - data compiled by LSEG
** Up to last close, stock down ~25% YTD
(Reporting by Akriti Shah in Bengaluru)
((akriti.shah@thomsonreuters.com ; X, formerly Twitter: @AkritiShahh))