Atour Lifestyle price target raised to $36.80 from $35.30 at BofA

BofA raised the firm’s price target on Atour Lifestyle (ATAT) to $36.80 from $35.30 and keeps a Buy rating on the shares. Ahead of the company reporting FY24 results before the U.S. market open on March 25, the firm notes that it forecasts revenue to grow by 52% year-over-year to RMB 7.1B, which would be at the high-end of management’s guidance of 48%-52%.