Oddo BHF confirms its 'outperform' opinion on TUI, a stock included in its 'Large Caps conviction list', given the upside potential relative to the current share price implied by its price target being raised from 8.8 to 9.2 euros.

The research firm believes that the very likely inclusion in the MDAX 'should strengthen the stock's visibility, liquidity and, ultimately, its attractiveness'. It also believes that the environment remains favorable for the stock, and has therefore raised its EPS 2024 estimates by 5%.

"The valuation of the stock also supports our positive view, as it reflects a very sharp discount to the historical average (PE 2025 at 4.1 times, compared with an historical average of 14.4 times)", it continues.

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