TUI: Oddo reduces target price

(CercleFinance.com) - Oddo BHF maintains its "underperform" rating on the TUI share, having mechanically reduced its target price from 3.
8 euros to 2.5 euros, due to the dilution stemming from the group's capital increase and a few other adjustments - particularly on its financial result.

Following the German tour operator's announcement of an operating performance for Q1 that was "broadly in line", the broker did not make any adjustments to its forecasts for 2021.

However, Oddo BHF points out that the publication has not dispelled concerns about the group's level of liquidity and points to a high level of debt that is now expensive, as well as a risky bet on the summer season.

The share is currently flat in Frankfurt.


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