(CercleFinance.com) – Oddo indicates that RevPAR France is up nearly 88% in January 2022 compared to a year ago according to preliminary data published by MKG.
The analyst points out, however, that the impact of Omicron is being felt as RevPARs are down 37.8% compared to 2019, which compares to a decline limited to 17% over the last three months of 2021.
Oddo confirms its Outperformance opinion on the stock and its price target of 37 E.
‘Accor’s stock market valuation at 13.6x EV/EBITDA 2023e suggests a discount of more than 15% vs asset light comparables and its historical multiple and an FCF yield close to 7%’ indicates the analysis office.