Valamar Riviera confirmed at HOLD, TP HRK 30 - Enough cash for a full-scale restart of tourism activities
We confirm our HOLD recommendation for Valamar Riviera and our target price of HRK 30Croatia should benefit from the emerging trend of travelling towards familiar, close, safe and trusted destinations
Valamars fundamentals expected to significantly strengthen already in FY 22e
The main downside risks for our base case remain the threat of a third COVID-19 wave to continue throughout the summer and a slower than expected pace of vaccination in the EU
The Institutional Equity Research team of Raiffeisen Bank International AG covers 85 stocks from Austria, Central & Eastern Europe with sell-side research and thus levers our local broker status with excellent company relationships. For corporates in Austria, CEE and Western Europe, we offer co-sponsored research, which includes research coverage and marketing activities to investors. Additionally, through our Spotlight Research product we also shed light on leading European small and micro-caps, seeking greater visibility with investors.
The Institutional Equity Research team consists of roughly 15 analysts, both in Vienna and the CEE countries. Our analysts provide long-standing sector expertise in tandem with profound local market know how and a sectoral approach across the entire region.
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