Atour Lifestyle price target raised to $25.20 from $23.50 at BofA

BofA analyst Ronald Leung raised the firm’s price target on Atour Lifestyle to $25.20 from $23.50 and keeps a Buy rating on the shares after the company reported a Q2 beat, raised fiscal year revenue guidance and announced a three-year dividend policy of not less than 50% payout. The firm, which raised its FY24 adjusted net income view by 10% on higher-than-expected hotel openings, believes the beat and the dividend are “not entirely unexpected,” but adds that “a decent result in a tough market is still welcomed by the market.”