Accor price target raised to EUR 52 from EUR 48 at Jefferies

Jefferies analyst Jaina Mistry raised the firm’s price target on Accor (ACCYY) to EUR 52 from EUR 48 and keeps a Buy rating on the shares. The firm said that 2024 should be a year of delivery on medium-term targets, namely high-single digit fee growth and 9%-12% EBITDA growth. Jefferies added that it sees scope for further re-rating.