Deutsche Bank hikes target price on JD Wetherspoon
Wetherspoon (J.D.)
603.00p
17:15 23/12/24
Analysts at Deutsche Bank hiked their target price on pub chain JD Wetherspoon from 640.0p to 750.0p on Wednesday, stating demand had been "reset".
FTSE 250
20,419.09
17:09 23/12/24
FTSE 350
4,471.06
17:09 23/12/24
FTSE All-Share
4,428.73
16:44 23/12/24
Travel & Leisure
9,170.51
17:09 23/12/24
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