Accor: Oddo BHF still a buyer - raises target price
(CercleFinance.com) - Oddo BHF reinstates its "buy" rating on the Accor share, having raised its corresponding target price from 29 euros to 33.
5 euros, due to fundamentals that it considers solid and which will remain unchanged overall as the crisis ends.
It points to a diversified geographic exposure that offers one of the most defensive profiles in the hotel sector, a business model that is now almost entirely “asset-light” and a healthy balance sheet that will enable the group to weather the current storm.
The broker reports that RevPAR in France collapsed 93.5% y-o-y in May, although it anticipates that hotel demand should very gradually pick up again, particularly around the summer period.
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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.
5 euros, due to fundamentals that it considers solid and which will remain unchanged overall as the crisis ends.
It points to a diversified geographic exposure that offers one of the most defensive profiles in the hotel sector, a business model that is now almost entirely “asset-light” and a healthy balance sheet that will enable the group to weather the current storm.
The broker reports that RevPAR in France collapsed 93.5% y-o-y in May, although it anticipates that hotel demand should very gradually pick up again, particularly around the summer period.
Copyright (c) 2020 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.