MARKET TALK: Seymour Pierce Upgrades JD Wetherspoon To Hold

14th Jul 2010 08:08

0708 GMT [Dow Jones] Seymour Pierce upgrades JD Wetherspoon (JDW.LN) to hold from sell following the company's trading update. Notes the group has returned to a like-for-like sales growth trend. Says in recent days the stock has risen in anticipation of a positive pre-close statement and the market seems to have been proved right on this. Adds that so far, most pub groups have been reporting positive LFL trading trends in 2Q '10. Notes the shares have fallen from over 540p to closer to 400p. "Long term we are fans of the business model (it has the highest returns of the sector)." Has 450p price target. Shares -1.8% at 430p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 14, 2010 03:08 ET (07:08 GMT)