Shares in Costa owner Whitbread slumped today after analyst Citigroup downgraded the firm and said the end of growth for coffee chains was in sight.
Whitbread shares dropped as much as three per cent this morning after Citi double downgraded the firm from "buy" to "sell". Whitbread was trading down 1.4 per cent at time of writing at 3,722p
Citi forecasted that there was just four or five years of structural growth left in the branded UK coffee market.
Shares in Greggs fell slightly this morning but were trading 0.5 per cent above the previous close during the afternoon.
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Caffe Nero is not listed, while Starbucks has yet to open on the New York Stock Exchange today.
Whitbread also owns the Premier Inn hotel chain, which Citi said was threatened by the encroachment of Airbnb onto the overnight stay market.
Analyst Monique Pollard said Whitbread's growth was limited to the UK, and it should invest in international growth in order to maintain expansion. But she said this strategy "carries obvious risks".