Accor price target raised to EUR 56 from EUR 55 at Jefferies

Jefferies raised the firm’s price target on Accor (ACCYY) to EUR 56 from EUR 55 and keeps a Buy rating on the shares. The company has now delivered on its medium term growth ambitions for six consecutive quarters following a “strong” set of results, with management clearly focusing on organic growth, the analyst tells investors in a research note. The firm added that Accor is an asset-light business growing EBIT at a 13% two-year CAGR and should return about 20% of its market cap to shareholders in the next two years.