Restaurant Group price target raised to 50 GBp from 45 GBp at Jefferies

Jefferies raised the firm’s price target on Restaurant Group to 50 GBp from 45 GBp and keeps a Buy rating on the shares. The analyst cites the company’s positive message around ‘very encouraging’ current trading, an improving cost outlook, and medium-term EBITDA margin upgrades. The firm also believes that the involvement of activist investors is likely to continue highlighting the lowly valuation.