FRANKFURT (dpa-AFX) - JPMorgan's skepticism weighed on Hellofresh shares on Friday, even in a fairly stable market environment. The shares of the cooking box mail order company fell by 3.6 percent to 7.41 euros in early trading. The low since September of 6.90 euros reached on Monday in the wake of the flood of US tariffs remains in focus.
On Thursday evening, JPMorgan analyst Marcus Diebel assessed the impact of the current economic situation and the customs events on the European internet industry. He does not like Hellofresh's current high dependence on US consumers, which accounts for 60 percent of sales. Despite the attractive valuation of the shares, he therefore does not believe that they will outperform. For Diebel, Hellofresh is one of the stocks to avoid at the moment, along with Rightmove.
Meanwhile, the expert is focusing primarily on Auto1, Ocado and Scout24. Auto1 already bears the "Positive Catalyst Watch" stamp. Diebel sees a robust earnings trend for all three and his estimates are above consensus. Like Scout24, Auto1 shares were among the MDax leaders with a two percent increase in price./ag/mis
