Broker snap: Marston's looking forward to World Cup

7th Apr 2010 12:20

KBC Peel Hunt is holding off changing its earnings forecasts for brewing and pubs group Marston's ahead of the general election, but has hinted that upgrades could be on the way following Marston's trading update on Wednesday morning."Further progress on the new build programme, and consistent underlying trading, lay the base for next year's 11% forecast earnings growth, which compliments the 6% yield," KBC analyst Paul Hickman said.Hickman believes that the company will be among those most likely to benefit from the World Cup. 'Management estimates that every England match is worth £0.25m in turnover, and the tenancies, with their high concentration of community locations, should pull in additional business,' Hickman notes.The broker has a 'buy' recommendation on the shares with a price target of 120p.