(CercleFinance.com) – Liberum reaffirms its ‘buy’ advice on Whitbread and raises its price target from 3320 to 3740 pence, improving its taxable profit forecast for the hotel group to reflect the maintenance of occupancy levels and the pricing power.
‘Demand remains balanced between leisure and business, as well as between London and the regions, benefiting from its direct distribution model and reduced competition’, points out the broker in its note on the Premier Inn brand’s regulator.
In addition, Liberum puts forward a balance sheet of the British group which remains according to him ‘robust, which leaves room for new complementary acquisitions in Germany and for an additional support of the dividends’.
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