Scandic Hotels : We are adopting a markedly deteriorated scenario for the stock; Neutral, target price lowered to SEK 85
>Q1 2020 guidance revised down - At the 2019 results publication, mid-February, the group had guided for growth of 2-3% in net revenues in Q1 2020. At the time, management had visibility on the sales generated in January/mid-February but also on bookings for the month of March. The announcement of a downward revision to expectations (to -4% in Q1 of which -15% over March alone), a few days ago, reflects a rapid deterioration in business, probably last-minute cancellat...Scandic Hotels Group AB is a Sweden-based company engaged, along with its subsidiaries, in the operation of hotels. The Company's main market in which the Group operates in: Sweden, which includes Swedish hotels that are operated under the Scandic brand; Norway, which includes Norwegian hotels that are operated under the Scandic brand, and Other Nordic countries & segments include hotel operation in Belgium, Denmark, Finland, the Netherlands, Poland and Germany, as well as the hotel concept HTL, which is operated by the sub-group HTL Hotels. The Company operates a network of approximately 224 hotels and almost 42,000 hotel rooms in seven countries. Scandic Hotels Group AB is a wholly owned subsidiary of Sunstorm Holding AB.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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