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(Sharecast News) - Analysts at Berenberg raised their target price on Irish hotel operator Dalata Hotel Group from 480.0p to 510.0p on Monday following the company's recent Capital Markets Day.
Berenberg said it remains "confident" in the outlook for Dalata, noting that while it already holds the market leader position in Ireland, this was not a ceiling, and said it expects further growth and market share gains in the country.
The German bank also noted that the UK was "only just starting to take shape" with a midterm potential of more than double the number of rooms currently open. Furthermore, the continental European market represents a low-risk/high-reward strategy that plays into Dalata's strengths and said it expects Dalata to enter into new markets over the coming years.
Berenberg, which reiterated its 'buy' rating on the stock, expects to see Dalata deliver "robust" like-for-like growth, room expansion and value creation over the coming years.
Reporting by Iain Gilbert at Sharecast.com
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