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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Citi lifts Whitbread price target, reiterates 'buy' rating

Thu 21 Aug 2025 07:22

(Sharecast News) - Citi lifted its price target on Whitbread on Thursday to 3,800p from 3,600p as it reiterated its 'buy' rating, saying it sees a "compelling investment case" after the 29% share price increase since April. "Balance sheet strength enables growth beyond the UK market as our UK project tracker shows circa 30% of Premier Inn's pipeline is office-to-hotel conversions, while in Germany we are encouraged by a Q2 hotel development pipeline inflection," the bank said.

"With current RevPAR growth not significantly skewed by concert calendars or weather, and inbound-outbound travel now broadly normalised supports a recovery over time towards c.+2% RevPAR driven by economic factors and supported by our expectation of c.0.5% UK market supply growth."

Citi said the stock's valuation is undemanding versus its own history and the UK market and the underlying investment case driving 10% earnings per share growth compelling.

At 1030 BST, the shares were up 1.6% at 3,157p.

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