(Boursier.com) — Accor is trending well in the morning, with a gain of 1.5% to 41.8 euros. The hotel group is notably boosted by a rating from Jefferies which moved to ‘buy’ on the file while raising its target from 30 to 47 euros. The broker even designated the French group as its “first choice” in the hotel and travel sector in Europe. Accor is expected to grow faster than IHG this year due to its exposure to Asia and the Middle East and has additional ‘protection’ against a possible decline thanks to Ibis (40% of rooms) and event demand. Additionally, the stock trades at a ~21% discount to IHG, despite a similar EPS growth profile.
Bernstein (‘outperform’) has, for his part, revalued the file from 42 to 46 euros…
©2024 Boursier.com