On Monday, Stifel initiated coverage of Compagnie des Alpes shares with a buy recommendation and a target price of 25 euros, thereby reassuring investors of the company's 81% upside potential.

The broker stresses that the group, which operates three of the world's largest ski areas, should benefit from the drop in snow levels that is expected to hit lower-altitude resorts.

As for its leisure parks, Stifel praises the operator's "active" investment strategy, which it believes enables it to grow faster than the market while improving profitability.

From the broker's point of view, CDA shares are currently "excessively" undervalued in relation to their peers, but also in absolute terms, a discount which it believes will be reduced with the better-than-expected results the company is due to publish.

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