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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