CFG Bank Upgrades Risma to Buy with a 30.7% Upside Target

<p>CFG Research has raised its rating on Risma to “Buy” and set a new price target of MAD 404, suggesting a 30.7 % upside from the current reference price of MAD 309. The analyst team points to two strategic moves – a shift from a management contract to a franchise agreement with Accor for 21 hotels and the sale of Sofitel Casablanca Tour Blanche to Pickalbatros for MAD 450 million – as the main catalysts for the upgrade.</p><p>The transaction mix is expected to boost EBITDA margins by roughly 180 basis points in 2026, improve occupancy rates, and free up cash for new growth projects. CFG also forecasts revenue of MAD 1.696 billion and EBITDA of MAD 686 million for 2026, with a longer‑term outlook that sees revenue climbing to MAD 2.173 billion by 2030.</p>

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