Accor downgraded by Jefferies, shares face cautious valuation backdrop
26.06.2026 - 12:51:07 | ad-hoc-news.de
By Anna Wagner, Analysts & Consensus desk. Reviewed prior to publication on 2026-06-26, 12:50.
Accor (FR0000120404) is back under analyst scrutiny after a fresh move from Jefferies. The research house downgraded the Paris-listed hotel operator to Hold from Buy and cut its 12-month price target to €52, according to an Investing.com summary of the Jefferies note.
What Jefferies changes
Jefferies cites a marked drop in Middle East RevPAR as a key driver behind the downgrade, pointing to underperformance in one of Accor’s growth regions versus expectations.The Australian edition of Investing.com summarises the note and highlights that the analysts see limited scope for a valuation re-rating at the current share price.
According to the Jefferies analysis, estimates for Accor’s earnings are trimmed by roughly 4 percent, leaving the broker about 3 percent below the visible consensus.A related market comment notes that the current next-twelve-months P/E sits around 22.7 times, a level Jefferies considers demanding for a group with decelerating momentum in some regions.
How the valuation stacks up
The revised €52 price target implies a valuation of about 23.5 times forward earnings for Accor, representing roughly a 20 percent discount to UK peer InterContinental Hotels Group, based on Jefferies’ comparison.The broker’s bear and bull cases come in at €36 and €63 per share respectively, illustrating a wide outcome range for the French operator.
On MarketScreener, Accor most recently closed at €51.62, showing a 5-day gain of 3.16 percent and a year-to-date increase of 5.65 percent, with the stock trading on Euronext Paris.The overview page also reflects Fitch’s recent lift of Accor’s credit ratings on expectations of steady net leverage, underlining that not all external views have turned more cautious.
All news and analysis on the Accor shares
Track prior ad-hoc reports, analyst moves and historical price data for Accor in one place.
The business behind the ticker
Accor generates revenue primarily through hotel management and franchise fees, complemented by owned and leased properties in selected markets.In its financial communications the group distinguishes between its Asset-light management and franchise activities and a smaller hotel-investment base, a structure that influences margins and capital intensity.
Where the stock trades today
The Accor shares (FR0000120404) last traded on Euronext Paris at €51.62 on 2026-06-25, 16:55, according to the latest MarketScreener data.
Key data on the Accor shares
- Company: Accor S.A.
- ISIN: FR0000120404
- WKN: 860206
- Ticker: AC
- Trading venue: Euronext Paris
- Price (as of 2026-06-25, 16:55): 51.62 EUR
- Market cap: 13.4 billion EUR (as of 2026-06-25)
- Sector / industry: Consumer Discretionary / Hotels, Resorts & Cruise Lines
- Index membership: CAC Mid 60
- Next earnings date: 2026-07-25
This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell any security.
