UK's Whitbread hits more than 2-year low; J.P.Morgan downgrades stock, cuts PT
ReutersMar 7, 2025 10:15 AM
Premier Inn-owner Whitbread WTB.L drops as much as 3% to 2,456p, lowest since November 2022
Stock among top pct losers on FTSE 100 .FTSE index
J.P.Morgan downgrades to "neutral" from "overweight", citing weak consumer spending in UK, especially among lower-income households
Trims PT to 3,000p from 4,400p
Says consumer spending seems to have dropped since the UK's October 2024 budget, hurting retailers reliant on lower-income shoppers
Stock rated "buy" on avg; median PT is 3,600p, per data compiled by LSEG
WTB falls ~15% YTD
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