Source - SMW
Citigroup has downgraded its recommendation on Restaurant Group (LON:RTN) to 'sell' from 'neutral', despite the restaurant and pub restaurant operator reporting in line first half results.

Analyst Christopher McVey said: "Whilst we maintain the view that there may be valuation support, we suggest the group has significant trading headwinds with limited near-term positive catalysts."

The broker also cut its DCF-based price target to 320 pence per share (from 350 pence), implying an ETR of -16 per cent.

At 2:20pm: (LON:RTN) Restaurant Group The PLC share price was -23.65p at 372.35p