skip to content

Market News

Restaurant Group upgraded by JP Morgan

26 May 2017 14:06

JP Morgan Cazenove has upgraded its recommendation on Restaurant Group (LON:RTN) to overweight (from neutral) on the back of its first-quarter trading update, which highlighted better than expected like-for-like sales for the first 20 weeks of the year.

The City heavyweight said: "Shares in TRG have lost 17% since 10 March.

"FY18E EV/EBITDA is now 6.7x with a FCF yield of 7.6% and a dividend yield of 5.5% (on our unchanged estimates).

"Despite the risks, this appears too cheap to us and we upgrade as a result."

Its target was raised to 380p per share (from 340p).

At 2:06pm: (LON:RTN) Restaurant Group The PLC share price was +31.15p at 348.55p

Story provided by StockMarketWire.com

Related Company: RTN

Info Point:

To buy or sell shares call our Dealing Room on 0113 243 6941.

Too much jargon? Our glossary will help make sense of things.

Find out more about our Share Dealing Services.

Client Area Access

» Secure Login

» Not registered yet?

aew-banner-180x255.jpg

Branch Finder

Redmayne-Bentley have High Street branches throughout the UK. Find your nearest branch.