By Michele Maatouk
Date: Monday 26 Jun 2023
LONDON (ShareCast) - (Sharecast News) - Shore Capital initiated coverage of On The Beach on Monday with a 'buy' rating, with a fair value of 170p and 75% upside potential.
"On the Beach (OTB) is a leading player in the short haul beach holiday market," the broker noted.
"Whilst revenue has returned to pre-pandemic levels, profit remains lower, and the group is facing competition from the rise of well-known travel names offering package holidays.
"On just circa 3x FY23F EBITDA, we believe the market is overly discounting this competitive backdrop along with near-term concerns on the supply/demand balance."
ShoreCap said it sees broadly favourable seat capacity with a significant market share opportunity.
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Currency | UK Pounds |
Share Price | 222.50p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 301.00 |
52 Week Low | 141.60 |
Volume | 0 |
Shares Issued | 151.25m |
Market Cap | £336.53m |
Value |
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Price Trend |
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Income |
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Growth |
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Strong Buy | 6 |
Buy | 4 |
Neutral | 1 |
Sell | 1 |
Strong Sell | 0 |
Total | 12 |
Latest | Previous | |
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Interim | Final | |
Ex-Div | 29-May-25 | 30-Jan-25 |
Paid | 27-Jun-25 | 04-Mar-25 |
Amount | 1.00p | 2.10p |
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