Valamar Riviera raised to BUY, TP HRK 40 - Reaping the fruits of successfully navigating times of crisis
We raise our recommendation for Valamar Riviera from HOLD to BUY, TP lifted to HRK 40Croatian hospitality industry to again outperform its peers in FY 22e
We reckon with a further downward trajectory in the Groups indebtedness and anticipate a FY 21e DPS of HRK 1 to be paid out in FY 22e
However, current tensions between Russia and Ukraine represent a significant risk to the downside
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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