Share prices match KBS predictions
The hospitality sector is thriving, according to analysts at Kleinwort Benson Securities (KBS), who last week published a report, A Golden Age for Hospitality.
Granada shares were identified as a buy recommendation by KBS, and its share price obligingly rose by nearly 4% in the week. KBS believes the outlook for the business is attractive since the Forte acquisition.
Pelican's share price also appeared to receive a boost from KBS's buy suggestion, with a rise of 4%. The company reports full-year results today and KBS predicts pre-tax profits of £7.6m.
Greenalls Group saw its share price remain almost static over the week, despite falling out of the FT-SE 100 Index.
Whitbread had one of the worst share price performances, down nearly 4% last week. It continues to be tipped as a predator with a range of pub and restaurant companies being put forward as possible targets.