Accor SA, the Services sector company, was revisited by a Wall Street analyst today. Analyst Simon LeChipre from Jefferies maintained a Buy rating on the stock and has a €53.00 price target.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Simon LeChipre has given his Buy rating due to a combination of factors that reflect Accor SA’s strong market position and strategic initiatives. The company’s performance in the third quarter met expectations, which were already cautious, indicating stability in its operations.
Additionally, Accor’s positive outlook on current trading conditions, along with an upgrade in its full-year EBITDA guidance, signals confidence in its financial health. The announcement of a new share buyback program and the evaluation of a potential IPO for Ennismore further demonstrate proactive management strategies aimed at enhancing shareholder value. Furthermore, the reassuring comments regarding the Essendi disposal process provide additional comfort about the company’s strategic direction.
In another report released on October 8, Barclays also maintained a Buy rating on the stock with a €51.00 price target.