Deutsche Bank hikes target price on JD Wetherspoon

Deutsche Bank highlighted that Wetherspoon shares were up roughly 52% year-to-date, versus the UK midcap index which was down approximately 2%.

"Markets cheered the H123 results (out Friday last week), with the shares up circa 16% from Thursday's close," said Deutsche Bank.

The German bank said the reason for this was the strength in like-for-like sales growth in the first half, as well as continued momentum into the second.

"Given the run-up in share prices, is the potential for further outperformance negligible?," mulled DB, which also reiterated its 'buy' rating on the stock.

Reporting by Iain Gilbert at Sharecast.com