MARKET TALK: Oddo Cuts Accor Target Price To EUR28 From EUR49

2nd Jul 2010 12:18

1118 GMT [Dow Jones] Oddo cuts Accor (AC.FR) target price to EUR28 from EUR49 after Edenred listing at EUR11.40. Says Accor has potential for gain but is "relatively limited" as Accor is mid-cycle and halfway through real estate sell off plans. Sees Accor's position in Europe favourable and development through franchises credible and likely to improve profitability. Prefers Rezidor and Intercontinental Hotels (IHG.LN), but maintains add recommendation. Shares -7% at EUR23.24. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 02, 2010 07:18 ET (11:18 GMT)

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