TUI: Oddo BHF raises target price
(CercleFinance.com) - Oddo BHF confirms its 'outperform' rating on TUI shares, raising its target price for them from E9.
2 to E10.5, following the publication of annual results deemed 'very good quality', above guidance and with stronger-than-expected cash generation.
While adjusting its 2025-2026 assumptions (-4% on average EPS) for the German tourism group, the broker points to a good winter season, as well as initial indications for summer 2025 that are "already very positive".
Despite the recent rally (around +50% over the last three months), the share's valuation remains low, reflecting a discount of over 20% to the historical average on the basis of a 2025 EV/EBIT multiple, the analyst adds.
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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.
2 to E10.5, following the publication of annual results deemed 'very good quality', above guidance and with stronger-than-expected cash generation.
While adjusting its 2025-2026 assumptions (-4% on average EPS) for the German tourism group, the broker points to a good winter season, as well as initial indications for summer 2025 that are "already very positive".
Despite the recent rally (around +50% over the last three months), the share's valuation remains low, reflecting a discount of over 20% to the historical average on the basis of a 2025 EV/EBIT multiple, the analyst adds.
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.