Loungers PLC 30.9% potential upside indicated by Berenberg Bank

Loungers PLC with ticker (LON:LGRS) now has a potential upside of 30.9% according to Berenberg Bank.

LGRS.L

Berenberg Bank set a target price of 370 GBX for the company, which when compared to the Loungers PLC share price of 283 GBX at opening today (06/06/2024) indicates a potential upside of 30.9%. Trading has ranged between 178 (52 week low) and 286 (52 week high) with an average of 137,693 shares exchanging hands daily. The market capitalisation at the time of writing is £293,612,500.

Loungers plc is an operator of all-day cafe/bar/restaurants across the United Kingdom under the Lounge, Cosy Club and Brightside brands. The Lounge brand is a neighborhood cafe/bar combining elements of coffee shop culture, the British pub and dining. It has around 220 Lounges nationwide. The Lounges brand is located in secondary suburban high streets and small-town centers. The sites are characterized by informal interiors with an emphasis on a warm, comfortable atmosphere, often described as a home from home. The Cosy Clubs brand is more formal bars/restaurants offering reservations and table service. The Cosy Clubs brand is located in city centers and large market towns. Interiors tend to be larger and more theatrical than for a Lounge, and heritage buildings or first-floor spaces are often employed to create a sense of occasion. There are around 35 Cosy Clubs nationwide. The Brightside brand is a roadside dining concept and there are approximately three Brightside nationwide.