(CercleFinance.com) – InterContinental Hotels gains nearly 2% in London following an analysis by Oddo BHF which maintains its ‘outperformance’ opinion on the stock with a target price raised from 6,750 to 8,700 pence, saying positive on its prospects in 2024, after good 2023 results and a new share buyback program.
The research office highlights the relatively resilient exposure of the British hotel group, a solid financial situation, as well as its know-how and its good track record in terms of development of the hotel stock.
‘The stock market valuation suggests a 2024 EV/EBITDA multiple of 16.4 times, a discount of 10% compared to US asset light comparables (Hilton and Marriott), a level that we consider unjustified in the current context, and a FCF yield of 4%’, he adds.
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
This is a Smartvoice article: see legal notices