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MITCHELLS & BUTLERS
Numis has reiterated the restaurant and bar operator’s “add” rating ahead of its general meeting statement, due on 29 January. The broker said it expects the update to be “reasonably upbeat”, given the signs that operational improvements are finally starting to be reflected in like-for-like sales.
Jefferies reiterated its “buy” rating for the biopharmaceuticals firm, which recently announced it was buying US company NPS. The broker said this was a “solid acquisition”, and stated that it is “confident management can extract significant revenue and operating synergies”. Target price is 5,500p.
EUROMONEY INSTITUTIONAL INVESTOR
Westhouse Securities maintained its “neutral” rating on the publishing group. The broker was positive on the quality of the firm’s B2B assets, however it added that in the absence of meaningful acquisition activity it could not see “an obvious underlying share price catalyst given current trading conditions”.