(News Bulletin 247) – Oddo BHF confirms its ‘outperformance’ opinion and its price target of 8.8 euros on TUI, after the publication of quarterly results qualified as ‘very good, well above expectations’.
The tourism group’s revenues increased by 19% to 5.29 billion euros and its group EBIT came out largely positive at 169.4 million, exceeding the forecasts of the research department which were respectively 4.87 billion and 129 million.
“We are convinced that TUI remains a very good vehicle to play on the recovery in leisure demand (and its resilience) in Europe, for a group that is financially stabilized and for a very low valuation,” says the analyst.
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