TUI AG: Oddo BHF trims target price

(CercleFinance.com) - Oddo BHF maintains its "neutral" rating on TUI AG, having cut its target price for the share from 19.
4 euros to 18.6 euros, after updating its estimates for 2018 for the tour operator, following quarterly results that disappointed the market.

The broker's analysts say that although sales are in line with expectations, TUI's adjusted EBITA is significantly below expectations, and management's comments seemed fairly cautious as a result of currency impacts and the weather.

Given the particularly adverse momentum for tour operators in the short- and medium-term, the broker prefers Thomas Cook , due to its very low valuation and its potential for catching up, says the analyst monitoring the share.

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