By David Randall
By David Randall
NEW YORK, March 5 (Reuters) – Discount-hunting buyers are eyeing the shares of airways, motels, cruise strains and different corporations which have been among the many worst-hit by the coronavirus outbreak.
The latest declines have introduced down the valuations of journey and leisure-related corporations to ranges some buyers are imagine are engaging. American Airways Group Inc AAL.O, for instance, now trades at a ahead price-to-earnings ratio of three.3, in comparison with 5.four at first of the 12 months. Marriott Worldwide MAR.O trades at 17.6 in comparison with 23.2, whereas the ahead value for Carnival Corp CCL.N has fallen to six.four instances ahead earnings from 11.6 at first of the 12 months.
Few imagine these corporations are within the clear, because the outbreak continues to speed up past China’s borders to the USA and different international locations. But the sharp decline in shares tied to tourism and leisure within the wake of the virus’ unfold has pulled down valuations within the battered sectors and attracted the eye of buyers trying to make the most of latest market declines.
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