Accor: Stifel raises TP

(CercleFinance.com) - Stifel confirms its 'buy' recommendation on Accor shares, raising its target price for them from E48 to E50, based on higher estimates for the French hotel chain ahead of its Q1 trading update (225 April).


The broker anticipates "a strong start to the year, which should make current FY24 consensus expectations too conservative, while confirming the expectations of continued RevPAR outperformance to peers".

"We remain confident about sustained positive momentum throughout the year,
ultimately driving another year of double-digit EBITDA growth", Stifel adds, which still sees the risk/reward ratio on the stock as attractive.


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