Jefferies sees rapid recovery for Cineworld Target-Price to £1.10p from 40p8 Dec 2020 09:50
* According to Jefferies vaccines will transform leisure prospects, and post-COVID recovery in will vary by subsector
* The brokerage sees rapid improvement for pubs, slow for hotels, and says gaming and transport are its most preferred subsectors
* It says gaming subsector has been resilient during 2020, and now sees vaccines driving increased sports content
* "We expect low-ticket, highly accessible leisure activities such as pubs, restaurants and cinema to bounce back rapidly when the backdrop normalises," it says
* It names GVC , Flutter Entertainment , National Express Group and Go-Ahead Group as the stocks to buy
* It forecasts quicker post-vaccine recovery for hotels than consensus suggests; prefers Accor , Dalata and Whitbread
* Jefferies ups Premier-Inn owner Whitbread to "buy" from hold, but cuts British holiday package provider On The Beach and InterContinental Hotels to "underperform" from "hold"
* It expects the world's second-biggest cinema chain Cineworld , holiday and airline group Jet2 , pubs and restaurants operator Mitchells & Butlers and pub operator JD Wetherspoon to gain from vaccines transformation of leisure prospects