(CercleFinance.com) – Accor gains 5% thanks to an increase in the recommendation at Stifel from ‘hold’ to ‘buy’, with a new price target of 35 euros, in a note on the French hotel group and on its British peer Intercontinental.
In the summary of its note, the broker indicates that it perceives upside potential for expectations on Accor, and that its own estimates are established significantly above the consensus for the first time in several years.
“Finalizing the shift to an asset-light model should also act as a catalyst, and ultimately lead to significant cash return optionality,” adds Stifel.
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