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flag Whitbread shares dropped 11.3% after Bernstein downgraded it over UK business rate concerns, despite strong earnings.

flag Whitbread shares fell 11.3% on Friday, hitting a low of GBX 2,490, after investment firm Bernstein downgraded the stock to Underperform, citing concerns over rising UK business rates and their impact on profitability. flag The company, owner of Premier Inn, reported strong quarterly earnings of GBX 133.70 per share but faces headwinds from inflation and operational costs. flag Despite a "Moderate Buy" analyst consensus and a target price of GBX 3,480, investor sentiment weakened, with the stock down 6.3% over the past three months. flag The company operates over 900 hotels in the UK and Germany, employs more than 38,000 people, and has a market cap of £4.26 billion.

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