TUI AG: shares drop as broker slashes price target

(CercleFinance.com) - Shares in TUI AG fall 0.
8 percent at 1,623 pence in London after UBS cuts its price target to 1,600 pence from 1,720 pence, seeing "little valuation upside".

UBS - which keeps a "neutral" stance on the stock - said it has lowered its 2019/2020 estimates on the German travel company to reflect lower expectations for its tour operator business, obtaining a fair value of 1,600 pence.

Copyright (c) 2018 CercleFinance.com. All rights reserved.