Shore Capital has issued a "buy" recommendation for Hostelworld Group PLC, with a target price of 162p ahead of the company's trading statement later this month - an update that is expected to provide some visibility on summer booking trends.
The company had a strong performance last year and expects to maintain this momentum in 2024. Shore anticipates growth in bookings and revenue, especially from Asia.
It is predicting a 10% increase in revenue for 2024, with profits expected to reach about €21.7 million.
In afternoon trading the stock was up 1% at 164p.