Accor: Oddo confirms rating after takeover of Mantra.
(CercleFinance.com) - Oddo maintains its buy rating on the Accor stock after it confirmed its takeover of Mantra Group at a price of 3.
96 Australian dollars (c. 2.6 euros) per share, which values the group at 1.3 billion Australian dollars (0.9 billion euros).
Following this announcement, Oddo maintains its Buy rating on the stock, along with its target price of 46 euros.
Oddo believes that this announcement is an integral part of the group's strategy and is being made at attractive multiples. The group has also indicated that the process of selling a majority share of Accor Invest by the end of the year is going according to plan.
This acquisition reinforces Oddo's confidence in the completion of this deal (i.e. regarding Accor Invest) even though nothing is formal at this stage.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
96 Australian dollars (c. 2.6 euros) per share, which values the group at 1.3 billion Australian dollars (0.9 billion euros).
Following this announcement, Oddo maintains its Buy rating on the stock, along with its target price of 46 euros.
Oddo believes that this announcement is an integral part of the group's strategy and is being made at attractive multiples. The group has also indicated that the process of selling a majority share of Accor Invest by the end of the year is going according to plan.
This acquisition reinforces Oddo's confidence in the completion of this deal (i.e. regarding Accor Invest) even though nothing is formal at this stage.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.