(CercleFinance.com) – Invest Securities maintains its ‘neutral’ rating on the Covivio share, with a price target revised downwards, from 16.5 to 14.1 euros.
The broker indicates that the first half was marked by a stronger than expected recovery in the hotel sector. In this context, Covivio Hotels’ revenue doubled on a like-for-like basis, particularly following the rebound in variable revenue.
‘We remain relatively optimistic about the return of leisure customers, much less on that of business customers (45% of revenues)’, indicates the broker.
Invest Securities emphasizes that at this stage, the property company has not announced any strategic changes and that the roadmap is based in particular on the continued repositioning of part of its assets (14%) in the least expensive segments. risk (leisure and domestic).
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