Accor: Oddo trims target price

(CercleFinance.com) - Oddo maintains its "outperform" rating on Accor shares, trimming its target price for them from 31 euros to 30 euros.


The group's RevPAR (revenue per available room) in August in France rose by 20% relative to August 2019 and was up 39% compared to August 2021.

Oddo believes that the performance recorded in August is very encouraging, with it confirming the good trends in the French hotel industry.

Against this backdrop, the broker now expects 2022 EBITDA of 590 million euros (vs. E587m previously) and RevPAR that down 10% vs. 2019 (slightly better than the -13% expected previously).



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