Goldman Sachs analyst Simon Cheung initiated coverage of Atour Lifestyle (ATAT) with a Buy rating and $34.40 price target The firm notes that having a relatively short history, Atour is one of the fastest-growing chain hotel operators in China, with its hotel count more than tripled, or +30% CAGR from 420 at end-FY19 before the pandemic to 1.5k as of end-Q3 2024, covering close to 200 cities nationwide. Goldman believes the company is well-positioned to benefit from accelerating industry consolidation trend as smaller, independent hotel operators want to stay competitive through product upgrades and joining chain hotels.
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Read More on ATAT:
- Atour Lifestyle Reports Strong Q3 2024 Results
- Atour Lifestyle Holdings Sees Strong Q3 Revenue Growth
- Atour Lifestyle sees FY24 revenue up 48%-52%
- Atour Lifestyle reports Q3 EPS RMB 0.92 vs. RMB 0.63 last year
- ATAT Upcoming Earnings Report: What to Expect?
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
