TUI: Oddo BHF still buying after results

(CercleFinance.com) - Oddo BHF maintains its 'outperform' rating on TUI AG shares, with an unchanged target price of E9.
2, judging the Q3 results that were published this morning as being well-balanced and ahead of expectations.

The group posted quarterly revenues (to end June) of E5.79bn, compared with Oddo BHF's target of E5.65bn.

Bookings for the crucial summer period are still growing, showing no signs of slowing down, despite apprehensions linked to the global context that has weighed on the sector in recent weeks, the analyst says.

The broker believes that the stock's valuation remains well below historical norms (2025e P/E at 3.4x, against a pre-Covid historical average of 6.0x).


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