Atour Lifestyle price target raised to $32 from $30 at Morgan Stanley

Morgan Stanley analyst Dan Chee raised the firm’s price target on Atour Lifestyle to $32 from $30 and keeps an Overweight rating on the shares after the firm updated forecasts post the slight Q2 beat. The firm increased the revenue outlook for FY24, FY25 and FY26 by 5%, 5%, and 6%, respectively, mainly because of higher retail revenue and better hotel take rate expectations, partially offset by lower RevPAR estimates.