FRANKFURT (dpa-AFX) - Growing optimism from Goldman Sachs gave shares of online used car dealer Auto1 a boost on Friday. The stock rose 5.2 percent in the morning to 29.80 euros after analyst James Tate set a high price target of 39 euros in a quarterly outlook. At times, shares were even traded just above the 30-euro mark for the first time since early November. The high of 31.50 euros since November 2021 now appears within reach.
Expert Tate from Goldman Sachs wrote in a quarterly outlook for the fourth business quarter, available on Friday, that he expected Autohero, the trading platform, to post sales figures above consensus and targets. He emphasized that the outlook for Auto1 in 2026 was promising, with the company apparently continuing to gain market share. Autohero is quickly reaching the desired scale in an attractive market environment that only has room for one winner.
Tate raised his price target by two euros. With a target of 39 euros, he joins Barclays and JPMorgan among the more optimistic analysts in the dpa-AFX analyzer. Only JPMorgan expert Marcus Diebel has set a higher target, at 42 euros. When he raised his target in early December, Diebel also pointed to the continued momentum in sales volumes./tih/ajx/jha/
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