MARKET TALK: Seymour Pierce Upgrades JD Wetherspoon To Hold

15th Jul 2010 10:28

0928 GMT [Dow Jones] Seymour Pierce upgrades JD Wetherspoon (JDW.LN) to hold from sell. Sees improving trading momentum and says the valuation is at more reasonable levels. Notes that the share price performance has been volatile over '10 and now thinks the correction in the share price has gone far enough. Meanwhile, says the company's preclose trading statement shows growth in 4Q like-for-like revenues. In the long term, is a fan of the business model. Maintains 450p price target. Shares -0.4% at 421p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 15, 2010 05:28 ET (09:28 GMT)

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