MARKET TALK: Whitbread 1Q Update To Prompt Upgrades - Shore

22nd Jun 2010 07:58

0658 GMT [Dow Jones] Whitbread's (WTB.LN) 1Q update is strong, says Shore Capital, with like-for-like sales ahead by 7.6% in the three months to June 3, 2010. Shore says the strong performance reflects excellent like-for-like growth of 10.5% at Premier Inn, 3.6% at Pub Restaurants and the continued strength at Costa [+8.5%]. There is scope for modest upgrades on the back of this statement, Shore says. It keeps a buy recommendation, saying the stock trades on a discount to both the UK pub sector and the International hotel sector. Shares closed Monday at 1478p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires June 22, 2010 02:58 ET (06:58 GMT)