MARKET TALK: JD Wetherspoon 4Q Sales Show Improvement

14th Jul 2010 07:40

0640 GMT [Dow Jones] JD Wetherspoon's (JDW.LN) 4Q sales show improvement on the previous quarter says Investec. Breakfast openings and good weather are believed to be the main factors behind this. The company is on track to deliver on full-year estimates, says Investec. However it's concerned that a number of brokerages continue to forecast a substantial pick-up in profits next year. Investec says this is in contrast with management's commentary and there is a risk of disappointment. Notwithstanding this, Investec says Wetherspoon appears on track to meet the brokerage's expectations. Buy rating, 590p target. Shares closed Tuesday at 437.7p.([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 02:40 ET (06:40 GMT)