Accor: Deutsche Bank still a buyer, TP E36
(CercleFinance.com) - On Wednesday Deutsche Bank maintained its buy rating on Accor shares, as well as its target price of E36, representing 27% upside potential.
In a report, the broker believes that this is the right time to play the hotel group's recovery and to take advantage of its attractive valuation.
It says that Accor has benefited from a sound recovery in business about a year ago, thanks to its exposure to Europe, the Americas and the Middle East.
However, it says that the stock has only partially benefited from this, as the group also generates 25% of its revenue in Asia, where business has only just picked up.
Copyright (c) 2023 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.
In a report, the broker believes that this is the right time to play the hotel group's recovery and to take advantage of its attractive valuation.
It says that Accor has benefited from a sound recovery in business about a year ago, thanks to its exposure to Europe, the Americas and the Middle East.
However, it says that the stock has only partially benefited from this, as the group also generates 25% of its revenue in Asia, where business has only just picked up.
Copyright (c) 2023 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.