(CercleFinance.com) – Oddo maintains its ‘outperformance’ rating on the Whitbread stock with an unchanged price target of 4100p, after a third quarter ‘of good quality’, judges the analyst.
In fact, over the three months preceding November 25, Whitbread’s hotel revenues in the United Kingdom were up 10.6% compared to the same period in 2019.
Thus, ‘the balance sheet remains very solid with a net cash position of £ 120.5 million at the end of December and a positive cash generation’, continues the broker who also underlines ‘the little impact of Omicron at this stage’ but has a strong feeling also that the January / February period ‘should be more difficult’.
For Oddo, however, Whitbread remains one of the top picks in the sector, accumulating both an outperformance capacity in the hotel industry in Europe and a solid balance sheet situation.
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