Whitbread: Oddo stays on 'buy'

(CercleFinance.com) - Oddo BHF reiterates its 'buy' opinion and its target price of 3500 pence for Whitbread in a note on the hotels sector, in which it says that recent developments reassure it in its preference for resilient and resistant profiles.


Oddo considers that the emergence of a new, more virulent strain, of the Covid-19 virus in the United Kingdom, and the announcement of additional restrictions on air traffic by several EU countries, constitutes a very negative news flow for the hotel/leisure sector.

In this context, it underlines that Whitbread is largely exposed to a domestic clientele that has little exposure to air traffic interferences, it being exclusively exposed to the low-cost sector, which is relatively resistant in a period of slowdown.

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