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Mitchells & Butlers PLC (LSE:MAB) shares gained ground on Tuesday after Deutsche Bank upgraded the pub group from Hold to Buy and raised its price target from 300p to 325p, citing valuation support and improved fundamentals. Analyst Tim Barrett said a rotation away from artificial intelligence-focused stocks and renewed investor interest in asset-backed companies had created “certain buying opportunities.

Mitchells & Butlers PLC (LSE:MAB) reported strong sales over the festive period and said it remains confident about managing around £130 million of extra costs expected in the year.  The pub company that owns the All Bar One, Harvester, Toby Carvery and Nicholson's chains revealed total sales were up 3.5% and like-for-like sales rose 4.5% in the 15 weeks to 10 January, the first quarter of its financial year.