Mitchells & Butlers plc·Consumer Cyclical

Mitchells & Butlers PLC (LSE:MAB) shares gained ground on Tuesday after Deutsche Bank upgraded the pub group from Hold to Buy and raised its price target from 300p to 325p, citing valuation support and improved fundamentals. Analyst Tim Barrett said a rotation away from artificial intelligence-focused stocks and renewed investor interest in asset-backed companies had created “certain buying opportunities.

Mitchells & Butlers PLC (LSE:MAB) reported strong sales over the festive period and said it remains confident about managing around £130 million of extra costs expected in the year. The pub company that owns the All Bar One, Harvester, Toby Carvery and Nicholson's chains revealed total sales were up 3.5% and like-for-like sales rose 4.5% in the 15 weeks to 10 January, the first quarter of its financial year.
Mitchells & Butlers plc manages pubs, bars, and restaurants in the United Kingdom and Germany. The company operates its pubs and restaurants under the Alex, All Bar One, Browns, Castle, Ember Inns, Harvester, Innkeeper's Lodge, Miller & Carter, Nicholson's, O'Neill's, Premium Country Pubs, Sizzling Pubs, Stonehouse Pizza & Carvery, Toby Carvery, and Vintage Inns brands and formats. It also engages in the leisure retailing; property leasing, property management, and development; and financing activities, as well as operates as a healthcare trustee. In addition, the company owns various trademarks. As of September 25, 2021, it operated 1,732 pubs, bars, and restaurants. Mitchells & Butlers plc was founded in 1898 and is headquartered in Birmingham, the United Kingdom. Mitchells & Butlers plc operates as a subsidiary of Odyzean Limited.
Consumer Cyclical
Restaurants
50,000
2013-03-14
1.34