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Accor: a satisfactory publication according to UBS.

(CercleFinance.com) - UBS has confirmed its buy rating on the Accor stock, after the hotel group reported its Q3 sales last night.
The broker has also confirmed its 12-month target price of 45.25 euros.

Q3 sales came in at 504 million euros, exceeding UBS' expectations (482 million euros), which is also true for organic growth (6.4% vs. 5.7%).

"3Q group revpar was 4.5% (UBS 5%) with France/Swiss up 5%, Europe revpar up c8% (...) and Asia-Pac c4% in Asia Pacific," says UBS. The trend remains negative in South America (-12%), but it is improving, with stabilisation in Brazil.

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