NHH: How much would a conservative buyer pay? (Bankinter Securities)
Our target price of €6.36/share follows the valuation criteria adopted by most financial investors who are passive shareholders and cannot add value from acquisitions, integrations or other potential M&A activities that an industrial acquirer may foresee when considering a take-over. Our valuation revolves around projections that assuming that the current sales model (c. €1.6bn in sales) and €1.3bn of operating cost remain largely unchanged.
NH Hotel is engaged in the operation and management of hotels throughout Spain, the Benelux countries, Germany, and South America.
Bankinter S.A. is a Spanish brokerage firm established in 1989. The company's line of business includes the provision of market research and trading services for Equity and Fixed Income products.
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