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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider. You should consider whether you understand how spread bets and CFDs work, and whether you can afford to take the high risk of losing your money.

TUI reports strong figures as it debates London exit

TUI has reported further good numbers thanks to strong demand, but it continues to consider an exit from its London listing.

TUI logo image Source: Bloomberg

TUI reports strong figures as it debates London exit

German travel giant TUI AG has reported a quarterly profit of 6 million euros ($6.46 million), surpassing expectations due to strong travel demand. The company's profit turnaround was significantly higher than the forecasted loss of 102 million euros.
TUI's revenue for the first quarter reached a record 4.3 billion euros, a 15% increase from the previous year, driven by higher demand and increased prices.

TUI CEO Sebastian Ebel expressed confidence in the company's growth and transformation, stating that they are on track and gaining customers. TUI expects to achieve at least 25% growth in operating profit for the 2024 financial year and aims for a compound annual growth rate of 7-10% in the medium term.

Despite the positive results, TUI's share price is still trading at a significant discount compared to historical averages, according to Deutsche Bank analysts.

Analyst ratings for TUI

Refinitiv data shows a consensus analyst rating of ‘buy’ for TUI with 1 strong buy, 5 buy and 5 hold – and a mean of estimates suggesting a long-term price target of €9.63 for the share, roughly 48% higher than the current price (as of 13 February 2024).

Refintiv analyst recommendations Source: Refinitiv

Technical analysis of the TUI share price

TUI’s share price, which recovered from its October 2023 record low at €4.366, to its December peak at €7.344 before sliding back to its mid-January low at €5.970, only very briefly shot back up close to its August 2023 peak at €7.410 before being rejected by it post its Q1 earnings on Tuesday morning.

TUI Weekly Candlestick Chart

TUI Weekly Chart Source: Tradingview
TUI Weekly Chart Source: Tradingview

On the daily chart the rejection can be seen even better with a possible Bearish Engulfing pattern being formed on Tuesday. This bearish chart pattern would be validated by a daily chart close below Monday’s €6.510 low and another down day on Wednesday.

TUI Daily Candlestick Chart

TUI Daily Chart Source: Tradingview
TUI Daily Chart Source: Tradingview

The 200-day simple moving average (SMA), mid-January and early February lows at €6.118 to €5.970, together with the November high at €5.950, should offer good support.

In case of it giving way, a slide to the September 2023 high at €5.876 may even be envisaged.

For a long-term inverse head and shoulders technical bullish reversal to become probable a rise and daily chart close above the July, August, December and current February high at €7.344 to €7.410 would need to be seen.

This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.

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