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Accor: Stifel confirms 'buy' rating

( - Stifel has reaffirmed its "buy" recommendation and E41 price target on Accor, its favorite stock in the hotel sector, the day after S&P upgraded its credit rating to investment grade.

" It should now pave the way for management to execute on its capital allocation framework, and we would now expect the first tranche of a share buyback programme to begin over the coming months ".

" Additionally, recent industry data and comments across the sector point to another positive summer season, leaving upside risk to the company guidance and consensus estimates ", he adds.

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