Oddo BHF has reiterated its 'outperform' rating on Compagnie des Alpes, with an adjusted target price of €18.5 to €19, stressing that 'momentum is still good' for the group, despite inflation, in light of its publication the previous evening.

'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.

Even if the share's recent performance is respectable, the discount on historical multiples still seems excessive to us", continues Oddo BHF, which also notes a very proactive tone in terms of M&A and believes that the yield should remain attractive.

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