(News Bulletin 247) – Accor shares posted one of the strongest increases in the SBF 120 index on the Paris Stock Exchange on Friday, Stifel welcoming the “solid” results unveiled yesterday by the hotel group.
At 9:50 a.m., the title gained 4.2% while, at the same time, the SBF 120 only gained 0.3%.
In a note released in the morning, Stifel believes that the risk / return profile of the value seems to him “more attractive” following the publication and a conference call deemed “convincing”.
‘Although the operating leverage could have been more convincing last year, it should improve over time’, writes the analyst in his study.
‘Together with the improvement in the momentum at the level of RevPAR, this observation brings our estimates above those of the consensus’, adds the intermediary.
Stifel says it is considering other potential catalysts, such as payouts to shareholders, but believes that these elements are currently outweighed by more unfavorable factors, in this case concerns surrounding strategy and a stock market valuation deemed ‘stretched’.
The professional nevertheless notes his recommendation to ‘sell’ to ‘hold’, with a target price increased from 20 to 32 euros, which suggests, according to him, a small potential for appreciation.
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