INTERCONTINENTAL HOTELS : Oddo BHF raises its target
The research house highlights the British hotel group's relatively resilient exposure, solid financial position, as well as its know-how and good track record in terms of hotel development.
The market valuation suggests an EV/EBITDA 2024 multiple of 16.4 times, i.e. a 10% discount to US asset light comparables (Hilton and Marriott), a level we consider unjustified in the current context, and an FCF yield of 4%", it adds.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
The information and analyses published by Cercle Finance are intended solely as a decision-making aid for investors. Cercle Finance cannot be held responsible, directly or indirectly, for the use of information and analyses by readers. Uninformed investors are advised to consult a professional advisor before investing. This information does not constitute an invitation to sell or a solicitation to buy.
Go to the original article.
Contact us to request a correction