Brokers Evolution have cut their top-of-range forecasts for Marston's after a second quarter trading update showed the like-for-like trade was still decelerating. The target price has also been reduced from 560p to 320p, although there is still a "buy" rating on the shares which are described as good value with an attractive dividend yield.
Strong food sales have offset declining drink sales and the disposal last year of 290 pubs has improved the quality of the tenanted estate. The shares closed last week at 271.5p.
The Sunday Express 27/01//08 (Financial) page 28
