All Analysts articles

  • Loungers
    Analysis & Insight

    Differentiation is key to a successful rollout


    The ability to provide a differentiated experience is key to a successful rollout, and one that Loungers is able to offer, according to analysts Berenberg.

  • Loungers

    Loungers set to ‘explode out of the blocks’, says analyst


    Analyst Liberum has said it expects Loungers to “explode out of the blocks” once sites reopen, following the announcement by the operator this morning that it intends to resume its fast-pasted opening rate once restrictions are lifted.

  • Wagamama_Stevenage_032

    TRG’s capital raise will better position it for growth, say analysts


    The Restaurant Group (TRG) announcement of a £175m capital raise, yesterday (10 March), has been met positively by analysts, who believe it better position the business for future growth.

  • 191014 TRG F&Bs Pepperoni Romana_55

    TRG debt renegotiation met with positive reaction


    The Restaurant Group’s (TRG) announcement yesterday (1 March) that it had renegotiated is debt facilities has been met with positive notes from analysts.

  • Mitchells & Butlers
    Analysis & Insight

    Peel Hunt ups target price for M&B after share announcement


    Analyst Peel Hunt has increased its target price for Mitchells & Butlers (M&B) from 275 pence per share to 325p and changed its recommendation from Add to Hold.

  • JDW 2012 New Opening Watchmaker Bar

    Peel Hunt: JDW may be hit by post pandemic trends


    JD Wetherspoon (JDW), and other low-ticket operators, are more likely to be hit post-Covid working patterns, as well as any further downturn in the economy, according to analysts Peel Hunt.

  • wagamama
    Analysis & Insight

    JP Morgan on The Restaurant Group


    JP Morgan has downgraded its revenue forecasts for The Restaurant Group (TRG) as the likelihood of significant restrictions continuing past the first quarter of this year increase; but it remains positive about the group’s expansion prospects, particular through Wagamama. 

  • Marston's - Lazy Pig in the Pantry external
    Analysis & Insight

    Analysts’ verdict: Liberum on Marston’s


    An offer for Marston’s could come in at above 100p per share, according to analysts Liberum, in a note issued following the news that Platinum Equity Advisors had received an unsolicited non-binding proposal from the American PE firm regarding a possible cash offer for its share capital.

  • GettyImages-1257009751
    Analysis & Insight

    AlixPartners: Gradually building momentum


    Just over a month since restart, it is obvious that the sector’s revival will take time, and sadly it will not include everyone. 

  • Miller & Carter exterior
    Analysis & Insight

    Morgan Stanley on Mitchells & Butlers


    M&B’s pubs are mostly large, branded, food-led, freehold in residential areas, so better able to cope with Covid-19 pressures and take share as supply exits. We want to be positive, but its securitised debt needs the PLC to inject cash to fund it, and it might need to replace PLC debt with equity.

  • Analysis & Insight

    Berenberg: UK pubs and restaurants guide to reopening


    Having been closed for more than three months since the UK went into lockdown on 23 March, the UK’s pubs and restaurants will be allowed to reopen from this Saturday, 4 July. Having spoken to management teams across the sector numerous times over the last 19 weeks, we have pulled together a “cheat sheet” on reopening plans and key points to watch in the months ahead.

  • Analysis & Insight

    J.P. Morgan on the UK pub sector


    Although PM Boris Johnson’s speech on Sunday appeared to create more confusion around broader re-opening plans, hopes have been raised about select openings at some point in July for the broader “hospitality” industry. While we are unsurprisingly left with more questions than answers, we thought a quick piece was merited to highlight our views, recent investor feedback, what we’re watching for re-openings, and some incremental news in the last two weeks. 

  • Wagamama Rushden Lakes
    Analysis & Insight

    Goodbody on The Restaurant Group


    While Restaurant Group has faced a number of well documented challenges before the advent of the current coronavirus crisis took hold, including the oversupply of branded restaurant chains in the UK, cost inflation, high rents and struggling legacy brands, the closure of the sector for a quarter has presented a ...

  • Cat and Mutton, City Pub Co
    Analysis & Insight

    ​Analysts’ verdict: Berenberg on City Pub Group


    Berenberg finds City Pub Group’s fundraise has left the company with a “substantial level of liquidity” and a “best-in-class balance sheet”, which it could deploy on cut-price acquisitions.

  • Domino's
    Analysis & Insight

    Analysts’ verdict: Goodbody on the leisure shutdown


    With the pubs and restaurants now closed the remainder of the leisure sector saw further restrictions last night with collection and delivery now also being impacted.

  • Analysis & Insight

    Morgan Stanley on M&B


    Jamie Rollo of Morgan Stanley gives his verdict on Mitchells & Butlers’ latest update. 

  • Analysis & Insight

    Goodbody on M&B, TRG, Marston’s


    Mitchells & Butlers, Restaurant Group and Marston’s all seeing a significant impact from COVID-19

  • GettyImages-1149890156
    Analysis & Insight

    BDO: ‘The contagion into a deep recession will happen very quickly’


    Widescale job losses in the restaurant and bar industry will plunge the UK economy into a deep recession, BDO partner Peter Hemington has told MCA.

  • Analysis & Insight

    Goodbody on Marston’s


    Management were quite open at their FY results a few weeks ago that it was disappointed with FY19 trading and would be working hard to remedy it in FY20. It will be interesting to see if they can deliver better YoY growth this Christmas particularly given its comp is easier ...

  • TRG Logo
    Analysis & Insight

    Goodbody on TRG


    Restaurant Group will report a Q4 trading update in late January. At this point last year RTN gave full year LFL’s for the group and total sales. We forecast FY LFL sales growth of -0.8% in the Legacy business with LFL sales growth of 8.8% for Wagamama UK (implying a group FY LFL of just above 2%). As a reminder group LFL growth was +3.7% in the first 34 weeks.