Accor: UBS downgrades 'buy' rating

(CercleFinance.com) - UBS has downgraded its rating on Accor shares from 'buy' to 'neutral,' despite raising its target price from 31.
5 euros to 36.5 euros (current price: 34.6 euros, -0.7%), with its new target price representing upside potential of just 5% for the French hotel chain's shares.

"We have increased confidence on Accor's cost savings and incentive fees could provide some more upside ahead. However, the recovery is unlikely to be linear", the broker says.



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