(News Bulletin 247) – Oddo BHF reiterates its ‘outperformance’ opinion on Compagnie des Alpes with an adjusted target price of 18.5 to 19 euros, stressing that ‘momentum is still good’ for the group despite inflation, at seen from its publication the previous evening.
“Third quarter attendance seems very dynamic in leisure parks, especially since the pricing power observed in ski areas this winter will also be substantial in parks this summer”, points out the analyst.
“Even if the title’s recent performance is honourable, the discount on historical multiples still seems excessive to us,” continues Oddo BHF, who also notes a very proactive tone in terms of M&A and thinks that the return should remain attractive.
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