By Michele Maatouk
Date: Tuesday 26 Sep 2023
LONDON (ShareCast) - (Sharecast News) - Redburn downgraded its stance on Premier Inn owner Whitbread on Tuesday to 'sell' from 'neutral', with a target price of 3,000p.
Redburn said consensus expectations for pricing versus 2019 are 20% higher for Whitbread than any other hotel group it covers.
"We argue the data suggests this is less due to supply restrictions than the company believes," it said.
"Whitbread is a superbly run business, with top-class cost control, but this isn't enough when we are 11% below consensus for RevPAR (revenue per available room) in 2026, which drops through to 16% at EBITDA."
At 1125 BST, the shares were down 1.7% at 3,517p.
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Currency | UK Pounds |
Share Price | 3,051.00p |
Change Today | -48.00p |
% Change | -1.55 % |
52 Week High | 3,678.00 |
52 Week Low | 3,028.00 |
Volume | 183,076 |
Shares Issued | 184.37m |
Market Cap | £5,625m |
RiskGrade | 219 |
Value |
---|
Price Trend |
---|
Income |
---|
Growth |
---|
Strong Buy | 7 |
Buy | 8 |
Neutral | 4 |
Sell | 1 |
Strong Sell | 0 |
Total | 20 |
Latest | Previous | |
---|---|---|
Final | Interim | |
Ex-Div | 23-May-24 | 02-Nov-23 |
Paid | 05-Jul-24 | 08-Dec-23 |
Amount | 62.90p | 34.10p |
Time | Volume / Share Price |
10:35 | 38 @ 3,051.00p |
10:35 | 100 @ 3,050.51p |
10:35 | 60 @ 3,048.47p |
10:34 | 30 @ 3,048.00p |
10:33 | 33 @ 3,049.00p |
Chair | Adam Crozier |
CFO | Hemant Patel |
CEO | Dominic Paul |
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