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Saudi Arabia's tourism sector is booming, welcoming 30 million international visitors in 2024, a 9.5% increase from the previous year, and contributing $131.9 billion to the GDP, or 12.45%. Inbound spending reached a record $40.95 billion, driven by a shift towards leisure and cultural travel, while private sector investments surged to $3.8 billion, reflecting global confidence in the Kingdom's Vision 2030. To support this growth, the country is rapidly expanding its infrastructure, with over 426,000 licensed hotel rooms and increased presence from major international hospitality brands.
Analysts have updated their recommendations for several companies, with notable changes including Accor's price target raised to EUR 54 and Legrand upgraded to buy with a target of EUR 125. UBS Group was downgraded to underperform, while Renault's target increased to EUR 68. Other adjustments include Michelin and Ipsen, both seeing target revisions.
UBS Global Research has upgraded Amadeus to a "buy" rating, raising its 12-month price target to €80, citing improved business outlook and growth potential. The upgrade is driven by the normalization of disintermediation rates and Amadeus's successful adaptation in the evolving distribution landscape.The company is expected to benefit from growth in its Air IT and Hospitality segments, with double-digit revenue growth anticipated. Despite challenges in indirect distribution channels, Amadeus's competitive positioning and potential for shareholder returns through buybacks bolster investor confidence.
UBS Global Research has upgraded Amadeus to a "buy" rating, raising its 12-month price target to €80 from €67, citing improved business outlook and growth potential. The upgrade is driven by the normalization of disintermediation rates and Amadeus's successful adaptation in the evolving distribution landscape.The company is expected to benefit from growth in its Air IT and Hospitality segments, with double-digit revenue growth anticipated. Despite challenges in indirect distribution channels, Amadeus's competitive positioning and potential for shareholder returns through buybacks bolster investor confidence.
Accor SA
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Saudi Arabia's tourism sector experiences record growth and global investment surge
10:36 03.04.2025
analysts update recommendations and price targets for major european companies
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08:38 21.01.2025
ubs upgrades amadeus to buy citing growth potential and market stability
14:08 10.01.2025
ubs upgrades amadeus to buy citing growth potential and market stability
14:08 10.01.2025
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