Thomas Cook: Berenberg upgrades stock
(CercleFinance.com) - After UBS last Thursday, in turn Berenberg has upgraded its rating on the Thomas Cook stock following the profit warning made by the tourism group last week.
In a note this morning, the German broker said that it has raised its recommendation on Thomas Cook shares from "sell" to "hold," while cutting its target price from 100 pence to 65 pence.
"We are still not supportive of the Thomas Cook investment case despite the shares having fallen by c60% since the middle of May," Berenberg says.
"While the hot summer has taken its toll on the tour operators, we believe that competitive pressures have intensified during 2018," it adds.
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.
In a note this morning, the German broker said that it has raised its recommendation on Thomas Cook shares from "sell" to "hold," while cutting its target price from 100 pence to 65 pence.
"We are still not supportive of the Thomas Cook investment case despite the shares having fallen by c60% since the middle of May," Berenberg says.
"While the hot summer has taken its toll on the tour operators, we believe that competitive pressures have intensified during 2018," it adds.
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.