Covivio Hotels: Invest Securities upgrades stock
(CercleFinance.com) - Invest Securities has upgraded Covivio Hotels shares from 'neutral' to 'buy', with a target price raised from E14.
9 to E18.3, following operating data that once again reflects the sound momentum of the hotel sector in Europe.
Even though the property company's organic sales growth is tending to normalise after the post-pandemic rebound, it remains at a very good level, and broadly in line with the growth of its RNR, benefiting from its excellent hedging position, it points out.
Also pointing to a very good balance sheet position, Invest Securities considers that the publication looks excellent in many respects and is reflected in a strong upward revision of its normative recurrent NP and NAV (+33% and +22% respectively).
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
9 to E18.3, following operating data that once again reflects the sound momentum of the hotel sector in Europe.
Even though the property company's organic sales growth is tending to normalise after the post-pandemic rebound, it remains at a very good level, and broadly in line with the growth of its RNR, benefiting from its excellent hedging position, it points out.
Also pointing to a very good balance sheet position, Invest Securities considers that the publication looks excellent in many respects and is reflected in a strong upward revision of its normative recurrent NP and NAV (+33% and +22% respectively).
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.