Jefferies upgrades Autotrader and Rightmove; downgrades Baltic Classifieds
Jefferies issued a research note saying Agentic AI will improve online classifieds quality, with a longer growth runway, stronger network effects and a diminishing cost to serve. It upgraded Autotrader and Rightmove and downgraded Baltic Classifieds.
In a research note on Tuesday, Jefferies said it now sees Agentic AI as making the online classifieds sector higher quality, with a longer runway of growth, a stronger network effect and a diminishing cost to serve. The bank said in January that fears around Agentic AI had been overdone.