In a report released today, Adela Dashian from Jefferies maintained a Hold rating on Scandic Hotels Group AB (10H – Research Report), with a price target of SEK80.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Adela Dashian has given her Hold rating due to a combination of factors influencing Scandic Hotels Group AB’s performance. The company showed a promising start to the year with an increase in bookings and profitability that exceeded expectations. Despite a 2.9% year-over-year increase in net sales and a 3.8% organic growth, the results were still slightly below the FactSet consensus by 2%.
While all markets except Finland experienced positive organic growth, the geopolitical situation continues to impact Finland’s performance. The average occupancy rate improved to 55.1%, and RevPAR increased by 5.8% year-over-year. Furthermore, adjusted EBITDA saw a significant rise of 206% year-over-year, indicating enhanced operational efficiency. However, despite these positive indicators, the overall performance suggests a cautious approach, leading to the Hold rating.
According to TipRanks, Dashian is a 3-star analyst with an average return of 4.6% and a 40.68% success rate.