TUI: UBS raises TP

(CercleFinance.com) - The analyst asks if it's time to change his opinion on the stock? "We don't think so", UBS says.


He therefore maintains his neutral recommendation on the stock, but raises his target price to 660 pence (from 644 pence), which represents 18% upside potential.

We are updating our target prtice and analysing the main topics of discussion: i) earnings from tourism operations; ii) peak period hotel earnings; iii) FCF generation. We currently remain cautious, UBS says.

The tour operator has reaffirmed its outlook for full-year sales growth of at least 10% and an improvement of more than 25% in operating profit before non-recurring items (Ebit).

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