JPMorgan analyst Andre Chang initiated coverage of H World Group with an Overweight rating and $40 price target. H World is the second-largest hotel operator in China with 15% market share in 2022 among chain hotels in terms of hotel numbers but with the highest revenue and profit post COVID “thanks to its industry-leading efficiency,” the analyst tells investors in a research note. Although near-term macro headwinds may limit RevPar upside for the sector, H World will deliver the most resilient financial performance among listed peers, says the firm. It believes investors should accumulate the stock.
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