Panmure Liberum reiterates 'buy' rating on pub group Young's.

Panmure Liberum reiterated its ‘buy’ rating on pub group Young’s on Wednesday as it said that upgrade potential remains.

Young & Co's Brewery 'A' Shares
19 November 2025 14:06:08

Source: Sharecast

Panmure noted that Young’s interim report was consistent with its last trading update, delivering total sales growth of 5.4%.

"Combined with operating margin improvements and lower net debt, this drove a 9.9% improvement in PBT to £31.1m and an 8.5% rise in EPS to 34.95p," it said.

"Importantly, this marks a return to EPS growth following Covid-related and City Pub acquisition share dilution, with further accretion to come from the newly announced £10m share buyback."

Panmure said current LFL sales growth of 4.2% puts Young’s ahead of its expectations. However, "we refrain from upgrading for now given tougher prior-year comparatives, persistent inflationary pressures, and caution ahead of the Budget".

"That said, upgrade potential remains, and we reiterate our buy recommendation."

Panmure Liberum has a 1,450p price target on the stock.

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