LONDON (ShareCast) - (Sharecast News) - Analysts at Jefferies hiked their target price for shares of Mitchells & Butlers in light of the "robust" momentum in the pub owner's sales and given the prospect that cost pressures would abate.
Their estimates for its earnings before interest, taxes, depreciation and amortisation in 2023 and 2024 rose by 2% and 13%, respectively.

Earnings per share for those two years were seen coming in 10% and 55% higher.

All told, they boosted their target price from 170.0p to 270.0p and upgraded their recommendation from 'hold' to 'buy'.

They also highlighted the company's well-invested and well-located 80% freehold food-oriented pub estate.

All of those factors, they said, should M&B win "material" market share even as other smaller operators struggled.

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