Whitbread: Canaccord ups target price
(CercleFinance.com) - While maintaining its "hold" recommendation on the Whitbread stock, broker Canaccord has raised its target price from 4500 pence to 5100 pence, "to reflect the increasing clarity on return of capital to shareholders.
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To account for a more cautious outlook for the UK hotel and restaurant group, the broker left its EPS estimate for 2019 pretty much unchanged, although has cut it by 5.3% for 2020, followed by 5.7% for 2021.
"News that the £500m share buyback should be complete by the prelims at end April has acted as a caffeine shot to the share price," it also notes.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
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To account for a more cautious outlook for the UK hotel and restaurant group, the broker left its EPS estimate for 2019 pretty much unchanged, although has cut it by 5.3% for 2020, followed by 5.7% for 2021.
"News that the £500m share buyback should be complete by the prelims at end April has acted as a caffeine shot to the share price," it also notes.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.