Whitbread: Barclays upgrades shares

(CercleFinance.com) - Whitbread shares have risen by up to 2% today after Barclays upgraded its rating on the British hospitality group's stock to "overweight," saying risks now look "skewed to the upside.
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Barclays - which has a target price of 5,200 pence for the share - says it expects the upcoming capital markets day on 13 February to be a "positive catalyst."

Shares in the company, which has a market capitalisation of around 8.4 billion pounds, were trading up 1.9% at 4,670.00 pence around midday on the London Stock Exchange, after peaking at 4,703 pence in morning trading.

Also note that Whitbread has completed the sale of Costa to Coca-Cola, receiving the sale proceeds of 3.9 billion pounds in cash.

As already announced, the company intends to start a share buyback program, which is expected to start after its quarterly trading update on 17 January.

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