TUI AG : Greater caution required on the share with the prospect of a newsflow that could deteriorate; Reduce (vs. Neutral)
>The share’s recent outperformance looks unjustified with visibility still very poor - The TUI share has largely outperformed the hotels & leisure sector in recent weeks: in the last month, the share price has gained nearly 55% versus just 6% for the STOXX 600 Travel & Leisure. The share has therefore made up a good part of the ground lost since the start of the year. This strong re-rating is not a reaction to the operating performance, since the H1 2020 results (to e...TUI is engaged in the tourism business, operating in some 180 countries. Co.'s segments include Hotels & Resorts, Cruises and Other Tourism. The Hotels & Resorts segment comprises all Group-owned hotels and hotel companies in TUI Group. The segment comprises majority participations in hotels, joint ventures with local partners, stakes in companies. The Cruises segment consists of Hapag-Lloyd Cruises and the joint venture TUI Cruises. Other Tourism segment comprises central functions such as destination services, IT, aviation control and the French airline Corsair.
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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