TUI: Morgan Stanley stays 'positive'
(CercleFinance.com) - Morgan Stanley maintains its "overweight" rating on German travel firm TUI, citing supportive net asset value (NAV) analysis, holiday survey and third-quarter preview.
The brokerage - which keeps a 1,150 pence target price on the stock - says its NAV analysis shows 970 pence per share when adjusting for asset revaluation, working capital, and goodwill.
Its UK summer holiday survey is also supportive, Morgan Stanley says, with the broker also expecting the company to confirm full-year guidance when it reports third-quarter results on 13 August.
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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 brokerage - which keeps a 1,150 pence target price on the stock - says its NAV analysis shows 970 pence per share when adjusting for asset revaluation, working capital, and goodwill.
Its UK summer holiday survey is also supportive, Morgan Stanley says, with the broker also expecting the company to confirm full-year guidance when it reports third-quarter results on 13 August.
Copyright (c) 2019 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.