'Born digital' - Auto1 rises after Jefferies initiates at 'buy'

Shares in AUTO1 Group AG1G.DE are up 4.1% after Jefferies initiates coverage of the German online car platform with "buy"

Jefferies says the "born digital" company is driving a long overdue digitalisation of the European automotive wholesaling and retailing industry

"As a born-digital and regional buyer / seller of cars, with efficient access to capital, Auto1 is primed to drive deep-rooted digitalisation in European car wholesaling and retailing", Jefferies says

It adds this should lead to high quality structural earnings growth for Auto1, long into the future

AUTO1 shares are up 50% year-to-date