Jefferies Raises Whitbread Target to 2,250p With Hold View
Jefferies lifted its Whitbread target to 2,250p while keeping a cautious hold view. The broker expects its adjusted earnings per share sequence to rise 3% to 4%, but Whitbread’s first-half pre-tax profit is projected to fall 11% to £282m as operating leverage is offset by net cost inflation and higher lease costs.