MARKET TALK: BarCap Starts Accor At EqualWeight

5th Jul 2010 11:15

1015 GMT [Dow Jones] Barclays Capital initiates coverage of Accor (AC.FR) with an equalweight rating and EUR28 target after the separation of some operations into a new listed company. Recovery of revenue per available room is now the single most relevant factor for the share price, says BarCap. It says a 1% change in revenue per available room would correspond to around 7% added to '10 EPS forecasts, which would make Accor the most highly geared amongst its peers in BarCap's coverage. Still, BarCap prefers Whitbread (WTB.LN) and InterContinental (IHG.LN) as their target prices imply further upside. Shares -1% at EUR23. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 05, 2010 06:15 ET (10:15 GMT)