Home > Analyse
Actualite financiere : Actualite bourse

Accor: Bryan Garnier still a buyer

(CercleFinance.com) - This morning Bryan, Garnier & Co.
has confirmed its buy rating on the share of the hotel group Accor, which remains one of its top picks. This follows Eurazeo selling its stake in the group's capital. The broker maintains its target price at 49.5 euros.

As a result, the holding company Eurazeo has sold its 4.2% stake in Accor which it still held through a private placement with institutional investors. The sale, which was made at 45.28 euros per share, represents a very limited instantaneous discount (-0.8%). Eurazeo has hence raised around twice its initial May 2008 investment (taking into account Edenred).

Bryan Garnier points out that in 2008, Eurazeo and Colony Capital had taken a 30% stake in Accor, before reducing their stakes - particularly in March 2015 - when both partners placed 22.5 million Accor shares at 48.75 euros each. After this, Colony sold its entire stake in February 2017, before Eurazeo did the same today.

Copyright (c) 2018 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.