Accor: stock rises with an analyst upbeat

(CercleFinance.com) - Accor shares are one of the biggest winners in the SBF 120 index on Thursday, boosted by an upgrade by Barclays' analysts, who say that they see many positive factors surrounding the stock.


After meeting the hotel group's financial director, the broker has decided to upgraded its rating for the share to "equal weight" (from "underweight"), with a target raised from 21 euros to 29 euros.

Accor's prospects for the next 12 months have changed considerably in recent months, analysts wrote in their morning comments.

Barclays believes that Accor's share price should be supported in the near term by an increase in market forecasts and by pleasant surprises in terms of shareholder remuneration, with 500 million euros of potential share buybacks.

At 9.25am, Accor shares were up 1.5%, while the SBF was down 0.5% at the same time.


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