TUI: stock edges up on solid Q3 results

(CercleFinance.com) - TUI shares are up 1% in Frankfurt today, after the tourism group's publication of Q3 results (to end- June), which Oddo BHF describes as very good, and well above expectations.


At E5.29bn, revenues were up 19%, well ahead of the E4.87bn expected by the broker, therefore unsurprisingly reflecting very strong leisure demand in Europe, which boosted both volumes and prices.

Group EBIT was E169.4m, above analysts' expectation of E129m, reflecting a margin of 3.2%, Oddo BHF adds, which confirms its "outperform" rating on the share, along with its target price of E8.8.

Analysts are convinced that TUI remains a very good vehicle to play the recovery in leisure demand (and its resilience) in Europe, for a group that has reached financial stability once more, with the share trading at a very low valuation.


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