HSBC upgraded shares of Mitchells & Butlers (LON:MAB) to a buy rating in a report issued on Tuesday morning. HSBC currently has GBX 310 ($4.05) target price on the stock, up from their previous target price of GBX 290 ($3.79).
A number of other analysts also recently issued reports on MAB. Royal Bank of Canada began coverage on shares of Mitchells & Butlers in a report on Tuesday. They set an underperform rating and a GBX 275 ($3.59) price target on the stock. Liberum Capital reaffirmed a sell rating on shares of Mitchells & Butlers in a report on Thursday, November 22nd. Barclays raised their price target on shares of Mitchells & Butlers from GBX 225 ($2.94) to GBX 260 ($3.40) and gave the company an underweight rating in a report on Friday, November 23rd. JPMorgan Chase & Co. raised their price target on shares of Mitchells & Butlers from GBX 270 ($3.53) to GBX 280 ($3.66) and gave the company a neutral rating in a report on Friday, November 23rd. Finally, Canaccord Genuity began coverage on shares of Mitchells & Butlers in a report on Thursday, November 22nd. They set a hold rating and a GBX 280 ($3.66) price target on the stock. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of GBX 272.78 ($3.56).
Shares of LON MAB opened at GBX 265 ($3.46) on Tuesday. Mitchells & Butlers has a 52-week low of GBX 219.90 ($2.87) and a 52-week high of GBX 284.80 ($3.72).
In related news, insider Phil Urban purchased 6,744 shares of the company’s stock in a transaction dated Thursday, November 29th. The shares were purchased at an average price of GBX 273 ($3.57) per share, with a total value of £18,411.12 ($24,057.39). In the last ninety days, insiders have bought 6,849 shares of company stock worth $1,868,411.
About Mitchells & Butlers
Mitchells & Butlers plc managed pubs and restaurants in the United Kingdom and Germany. The company operates through Retail Operating Business and Property Business segments. It operates its pubs and restaurants under the Harvester, Toby Carvery, All Bar One, Miller & Carter, Premium Country Pubs, Sizzling Pubs, Oak Tree Pubs, Crown Carveries, Stonehouse, Vintage Inns, Browns, Castle, Nicholson's, O'Neill's, Innkeeper's Lodge, Alex, and Ember Inns brands and formats.
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