ANALYST VIEWS: DID WH SMITH’S RESULTS MARK AN IMPROVEMENT?

 
Kasmira Jefford
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PHILIP DORGAN | PANMURE GORDON

Management has now successfully shifted the seasonality of the business, but a break up looks unlikely in the short run and top line momentum is likely to remain subdued. We think shares currently lack a catalyst.

JOHN STEVENSON | PEEL HUNT

WH Smith delivered Christmas trading in line with subdued like-for-like expectations... Valuation and yield remain attractive, although our “hold” stance continues to reflect medium-term technology fears.

DAVID JEARY | INVESTEC

WH Smith delivered another solid Christmas trading update, with a small improvement in like-for-like sales...our £99m profit before tax forecast remains unchanged, as does our Buy recommendation.