On the Beach Group plc

Marmalade…

  • Sectors : Technology
  • Companies : On the Beach Group plc

Ratings and price correct at time of issue.

  • On the Beach Group plc

    Closing Price: 391p

  • RATING 01/01/00

  • PREVIOUS RATING N/A

DAVY VIEW

One could be a buyer of this wonderful business, but On The Beach Group (OTB) is subject to profound uncertainties over a raft of very material external factors, all of which are out of its control. Yet, the business model is solid. The brand, like all good brands, puts the customer first — though this is not as common as one would imagine. We see the equity as fairly valued on the basis of a return to a revenue and profitability profile which was established prior to the COVID pandemic, and we will look for incremental catalysts before changing our view. We initiate with a ‘Neutral’ recommendation and a price target of 350p.

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Oct 6 2021, 06:55 IST/BST

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