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Broker snap: TUI ahead of the game
Tue, 06 Jan, 2009
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Broker snap: TUI ahead of the game
Thu, 27 Nov 2008, 13:05:00
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Related Market Prices
Name
Value
Percent
Change
TUI Travel
235.00p
+1.40%
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Broker KBC Peel Hunt has reiterated its 'buy' recommendation for <b>TUI Travel</b> after the holiday company's interim results on Thursday morning.<br /><br />KBC analyst Nicholas Bartram says the company looks well placed even as demand for overseas holidays starts to wane, having been ahead of the curve in terms of cutting back on capacity.<br /><br />The cut-backs, along with the £175m or so of synergy benefits the company expects to derive from the TUI and First Choice merger, should bolster profitability this year and in years to come.<br /><br />"Structurally the business has never been in better shape, while cash rich majority shareholder, TUI AG, would appear to underpin the downside. There are clearly risks and visibility has undoubtedly worsened, but TUI Travel is a high quality play and we retain our 250p price target," KBC said. <br />
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