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Whitbread: Oddo still a buyer

( - Oddo maintains its "outperform" rating on Whitbread shares, also sticking to its target price of 4,100p, following a "strong" Q3, the analyst says.

Indeed, in the three months to 25 November, Whitbread's UK hotel revenues came in 10.6% higher than the same period in pre-crisis 2019.

Thus, the group's balance sheet remains very strong, with net cash of 120.5 million pounds at end-December and positive cash generation, the broker adds, which also stresses the limited impact of Omicron - at this stage - but also anticipates that the January/February period should be more difficult.

Whitbread remains one of its "top picks" in the sector, combining both an ability to outperform the European hotel sector and a solid balance sheet.

The share closed down 1.8% yesterday.

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