TUI AG : Recommendation raised to Buy on TUI 2021 bond on the back of the market’s overreaction in our view to the Covid-19 crisis
We upgrade our recommendation on TUI 2021 bond to Speculative Buy (from Reduce) since we think that the market is over-reacting on the impacts of the Covid-19 crisis and – to a lesser extent – the Boeing Max issue. TUI has several options in our view to improve its liquidity profile without tapping the primary bond market. - >Fall in TUI 2021 bond price on the back of the Covid-19 crises and, to a lesser extent, the Boeing Max issue - On 24 January, at the time o...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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