MARKET TALK: UBS Lowers JD Wetherspoon Target Price

16th Jul 2010 10:53

0953 GMT [Dow Jones] UBS lowers JD Wetherspoon (JDW.LN) target price to 560p from 580p. "Our outlook for modest economic growth should improve the backdrop for pub sales, however we feel that, since the recovery is not expected to be vigorous, value formats will be favored by consumers," it says. Says that trading through the FIFA World Cup 2010 appears to be neutral for the business. "We have reduced our FY2010 EPS estimate to 34.8p from 36.3p as a result, which is in line with consensus," it adds. Has a buy rating. Shares -0.3% at 422p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 16, 2010 05:53 ET (09:53 GMT)