1250 GMT - Fuller, Smith and Turner's update showed an acceleration in sales growth and sector reports suggest a continued outperformance, Panmure Liberum analyst Anna Barnfather says in a note after upgrading the stock to buy from hold.The U.K. pubs-and-hotels business reported like-for-like sales growth of 5.9% over the 41 weeks to Jan. 11, which implies around 7% growth over the last quarter, boosted by a robust festive period, the analyst says. Added to that, the company said it is confident in meeting market expectations and is taking actions to mitigate costs challenges in fiscal 2026, Barnfather adds. "Recent share price underperformance combined with continued trading outperformance leaves the shares looking attractive," Barnfather says. The brokerage has a target price of 715.0 pence. Shares are up 1.05% at 576 pence. (michael.susin@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 07:50 ET (12:50 GMT)
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