MARKET TALK: HSBC Raises Whitbread Target Price

23rd Jun 2010 07:59

0659 GMT [Dow Jones] HSBC raises Whitbread (WTB.LN) target price to 1760p from 1690p following the company's 1Q results. The results show Whitbread outperforming recovering markets and the bank expects further market share gains from well-defined organic expansion and brand investment. It raises FY'11 pretax profit estimate by 4.5% to GBP263M, on better occupancy assumptions and to allow further headroom depending on the broader economic recovery. Overweight rating. Shares closed Tuesday at 1531p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 23, 2010 02:59 ET (06:59 GMT)