Deutsche Bank announced on Tuesday that it had raised its price target for Accor from €40 to €46, while maintaining its buy recommendation on the stock.

In a research note published this morning, the analyst described the group as "stronger than expected" and "increasingly attractive", following last week's better-than-expected 2023 annual results.

Deutsche recalls that the hotel giant unveiled a record operating profit Ebitda, in excess of one billion euros, a performance well above the 955 to 985 million euro range that the group had set itself as a target, and the consensus, which had been set at 992 million euros.

In addition, the dividend will be raised by 12.4% to 1.18 euros per share, adds the intermediary, who also notes the launch of a new 400 million euro share buyback program for this year.

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