JPMorgan Chase Cuts Auto Trader Group Price Target by £5
Analysts at JPMorgan Chase & Co. have revised their price target for Auto Trader Group (LON:AUTO) downward to GBX 440, a decrease from GBX 445. This move reflects a potential downside of 16.70% from the company's current price.
The 'underweight' rating on the stock remains in place, indicating that JPMorgan Chase & Co.'s analysts are less optimistic about Auto Trader Group's prospects than other firms. The revised target is part of an ongoing trend of downward revisions for the company's stock price.
Recently, UBS Group reissued a 'sell' rating with a GBX 470 price objective, while Royal Bank Of Canada dropped their target price from GBX 830 to GBX 535 and set a 'sector perform' rating. Berenberg Bank reduced its price target from GBX 580 to GBX 510 and maintained a 'hold' rating.
The average rating for Auto Trader Group is now 'Reduce', with an average target price of GBX 549.50. This indicates that, on balance, analysts see the stock as a less desirable investment opportunity than it was in the past.