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

-4.11%

Carvana Co. Class A

CVNA

339.37

-4.11%

** 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

(Reporting by Simon Ferdinand Eibach)

((Simonferdinand.eibach@thomsonreuters.com))

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