Macquarie raised the firm’s price target on Atour Lifestyle (ATAT) to $44 from $39 and keeps an Outperform rating on the shares. The firm notes Q3 revenue and adjusted EBITDA were ahead of its estimates, and highlights steady expansion in the midscale segment, while Atour Light will reach 170-180 hotels by year-end. Management raised full-year revenue guidance to +35% from +30% year-over-year previously, reflecting strong growth in the retail business.
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