WH Smith PLC (LSE:SMWH) has been in focus this year due to the return to growth of its US business, suggests broker Berenberg.
Its view on the US arm is also upbeat, but the broker says that other parts of the business are also doing well notably the UK travel arm where sales are up 10% like-for-like this year so far.
Berenberg notes that while early stage, the new food-to-go range ‘Smith’s Family Kitchen’ is trading ahead of company expectations.
A Smith’s Kitchen café at Princess Anne Hospital and a coffee concept at Manchester’s Terminal 2 airport opening in 2025 highlight the potential in UK travel, said the group.
With trading also strong in the rest of the world the outlook continues to be attractive and the shares remain a buy with a target price of 1,600p.