Bucking the trend in Paris, Compagnie des Alpes gained more than 1% the day after publishing results for the first half of 2022-23 that generally exceeded Oddo BHF's expectations.

The group reported net income down 5% to 107.6 million euros and EBITDA margin down 8.3 points to 34.3%, but the research firm was expecting only 101.3 million and 33% respectively, on sales up 25% to 678.5 million.

Stressing that 'momentum is still good' for Compagnie des Alpes, despite inflation, Oddo BHF reiterates its 'outperform' opinion on the stock, with an adjusted price target of €18.5 to €19.

'Third-quarter attendance looks very dynamic in leisure parks, especially as the pricing power seen in ski areas this winter will also be substantial in parks this summer', points out the analyst.

Copyright (c) 2023 CercleFinance.com. All rights reserved.