Whitbread: Liberum raises target price
(CercleFinance.com) - Liberum confirms its 'buy' rating on Whitbread shares increasing its target price for them from 3740p to 3820p, believing that the favourable supply winds will persist, with analysts seeing a potential cash return of over £1bn.
Pointing out that preliminary figures for FY 2022-23 came in slightly ahead of expectations, the broker anticipates modest earnings growth for FY 2023-24, despite underlying inflation of 7%-8%.
"Premier Inn UK continues to outpace market growth, benefitting from the structural contraction in supply and through continued strong business and leisure demand," Liberum said about the UK hotel group.
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