FRANKFURT (dpa-AFX) - At 5.50 euros, Hellofresh shares were trading at their lowest price ever on the stock exchange on Wednesday morning. As a result, the shares of the cooking box mail order company extended their annual loss to over 61 percent.

Analyst Marcus Diebel from JPMorgan caused renewed selling pressure, not only withdrawing his recommendation but also putting a short-term negative stamp on the shares. With the addition of "Negative Catalyst Watch", he already showed his skepticism for the second quarter report in August.

Given his forecasts for operating earnings in 2024 and 2025, which are well below the market consensus, Diebel expects any recovery from the admittedly low share price level to have little strength. However, the attractive valuation and possible takeover fantasy led him to downgrade the stock to "Neutral". His price target is EUR 7, which is now considerably lower.

Meanwhile, Lisa Yang from Goldman Sachs has long since changed her rating to "Sell" and further reduced her target price to 5.72 euros. She justified this by adjusting her estimates to the latest quarterly report./ag/ajx/jha/