Atour Lifestyle initiated with an Overweight at JPMorgan

JPMorgan initiated coverage of Atour Lifestyle (ATAT) with an Overweight rating and $57 price target offering 38% potential upside. Atour is the largest upper mid-scale hotel operator in China and a “newly emerged game-changer” in the China “sleep economy,” the analyst tells investors in a research note. The firm believes the company stands out from its China and global hotel peers due to its “fastest revenue and profit growth” of 20% in the next 3-5 years.