(News Bulletin 247) – The stock ended the day up more than 2%, benefiting from the positive analysis of Deutsche Bank, which retained its buy recommendation on Accor, as well as its target price of 36 euros representing potential 27% bullish.
In a research note, the financial intermediary believes that this is the right time to play the recovery of the hotel group and take advantage of its attractive valuation.
According to him, Accor benefited from a good recovery in activity about a year ago, thanks to its exposure to Europe, the Americas and the Middle East.
However, the title has only partially benefited, he underlines, insofar as the group also generates 25% of its turnover in Asia, where activity has just resumed.
Regarding 2023, Deutsche Bank says it is aiming for an Ebitda of 928 million euros, at the top of the range of analysts’ estimates, which currently range between 766 and 968 million euros.
Regarding the presentation of the group’s new organization, scheduled for June 27, the analyst believes that this presentation could constitute the premises of a more radical decision, namely an upcoming split or even a sale of one of its two activities, more likely that of luxury and lifestyle (Lifestyle & Luxury), he concludes.
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