(News Bulletin 247) – Stifel maintains its Buy recommendation on Accor shares but raises its target price to 39E, against 35E previously.
“After the underperformance of the share price over the past few years, we believe that the company is now on a roll,” begins the analyst.
“Accor’s luxury and lifestyle platform, combined with an attractive mix and streamlined organization, should support earnings momentum over the next few years,” the broker said.
And to continue: ‘The completion of the asset transformation should bring the business model closer to the best in the industry and leave significant flexibility in terms of liquidity. ‘
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