Accor: Oddo raises target price

(CercleFinance.com) - Oddo BHF maintains its "outperform" rating on Accor share, having increased its corresponding target price from 32.
5 euros to 38 euros, believing that the hotel chain will continue to benefit from the newsflow linked to the vaccine and the reopening of country borders.

In addition to its international geographic exposure, which will benefit from the recovery in travel in 2021, particularly in Europe, Accor has solid fundamentals, including a healthy balance sheet that will enable it to cope with the current shock, the analyst said.

Within the asset light universe, analysts also appreciate Accor's greater exposure to management contracts (59% of the portfolio versus 37% in franchises), which offer additional operating leverage with the return of incentive fees, they added.

The Accor share is down about 0.7% in early trading on Thursday.



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