Accor SA
AC: XPAR (FRA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
€71.00 | Hfqkb | Whthyslr |
Accor Earnings: Solid Sales Growth Continues, but Looming Macro Headwinds Could Hinder 2024 Growth
We don’t plan a material change to narrow-moat Accor’s EUR 41.50 fair value estimate, other than for time value, after its third-quarter sales update pointed toward solid second-half demand. We see shares as undervalued, trading around 10 times 2024 enterprise value/EBITDA versus peer multiples of 13-14 times.