Accor: Barclays upgrades stock, raises target price

(CercleFinance.com) - On Thursday Barclays upgraded its rating on Accor shares to "equal weight" from "underweight", saying that it sees a lot of positive elements in the stock.


After contacting the hotel group's CFO, the broker also decided to raise its target price for the stock from 21 euros to 29 euros.

In short it notes that Accor's prospects for the next 12 months have changed considerably in recent months.

Barclays believes that, in the near term, Accor's share price should be boosted by an upward revision in market forecasts and by pleasant surprises in terms of shareholder remuneration, with 500 million euros in potential share buybacks.


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