Jefferies raises Whitbread target to 2,250p but sticks to cautious 'hold' stance

What Brokers Say Retail & Consumer Written by: Ian Lyall 12:00 Wed 26 Aug 2026 --> Edited by: Jamie Ashcroft Proactive has a commercial relationship with Whitbread PLC. This article was produced independently under Proactive's Editorial Standards Policy . Disclaimer No investment advice About this content Editorial Standards & Policies Share article About this content × About Ian Lyall Ian Lyall, a seasoned journalist and editor, brings over three decades of experience to his role as Managing Editor at Proactive. Overseeing Proactive's editorial and broadcast operations across six offices on three continents, Ian is responsible for quality control, editorial policy, and content production. He directs the creation of 50,000 pieces of real-time news, feature articles, and filmed interviews annually. Prior to Proactive, Ian helped lead the business output at the Daily... Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and finance news content to a global investment audience. All our content is produced independently by our experienced and qualified teams of news journalists. Proactive news team spans the world’s key finance and investing hubs with bureaus and studios in London, New York, Toronto, Vancouver, Sydney and Perth. We are experts in medium and small-cap markets, we also keep our community up to date with blue-chip companies, commodities and broader investment stories. This is content that excites and engages motivated private investors. The team delivers news and unique insights across the market including but not confined to: biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto and emerging digital and EV technologies. Use of technology Proactive has always been a forward looking and enthusiastic technology adopter. Our human content creators are equipped with many decades of valuable expertise and experience. The team also has access to and use technologies to assist and enhance workflows. Proactive will on occasion use automation and software tools, including generative AI. Nevertheless, all content published by Proactive is edited and authored by humans, in line with best practice in regard to content production and search engine optimisation. Whitbread PLC ( LSE:WTB ) View Price & Profile Jefferies raises Whitbread target to 2,250p but sticks to cautious 'hold' stance Published: 12:00 26 Aug 2026 BST Whitbread PLC (LSE:WTB) has secured an estimate upgrade from Jefferies, as resilient UK hotel demand prompted the broker to raise its price target while keeping its cautious rating intact. The shares climbed 1.13% to 2,503p as Jefferies maintained its 'hold' rating, noting that the valuation already reflects most of the headwinds, alongside limited near-term earnings power. At the core of the revised note is a stronger-than-expected run of UK revenue per available room, driven by solid forward bookings that continue to outpace the wider hospitality industry. That operational momentum spurred the broker to bump its adjusted earnings per share sequence 3% to 4% higher, setting its first-half profit expectations slightly ahead of market consensus. Despite the revenue resilience , the hotelier's first-half pre-tax profit is projected to drop 11% to £282 million, as UK operating leverage is offset by net cost inflation and higher lease costs. Those domestic pressures are compounded by £10 million in one-off conversion costs in Germany, as well as a financial drag from its Middle East joint venture. Shifting focus from the balance sheet, analysts expect a strategic update on the company's property disposal programme, which has already sold 51 restaurants since June. That ongoing restructuring drive is expected to reduce food and beverage sales by £140 million to £160 million while simultaneously adding 750 new hotel rooms to the portfolio by the end of the year. The ultimate wild card remains a pending review into hospitality business rates, with findings expected next March potentially impacting Whitbread's projected £110 million rates burden over the coming financial years. Continue reading