Whitbread : Self help as a support! Outperform rating maintained, target price adjusted to 4,150p
>Management is counting on the network roll-out and operating efficiency - At the full-year results publication, the group announced several operating initiatives, in a context of a slowdown in the hotel business in the UK. Most of the announcement concern the roll-out of the Premier Inn network (focus on conversions to remedy the weakness of the pipeline) and the streamlining of the F&B portfolio (namely the epilogue of the strategic review of activity that began one...Whitbread is a hospitality company. Co. serves its customers in the U.K. and beyond through its two businesses: Premier Inn and Restaurants; and Costa. Premier Inn is a hotel business, with over 760 hotels and more than 68,000 rooms as of Mar 2 2017. Co.'s hotel are located alongside its own restaurant brands. Co. also have hotels in the Middle East, and Germany, with more hotels in the pipeline. Costa is the coffee shop, with over 2,200 coffee shops in the U.K., over 1,300 stores in 29 international markets and over 6,800 Costa Express self-serve units as of Mar 2 2017.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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