Shares in Mitchells & Butlers (M&B) are overvalued in relation to the rest of the pubs sector, according to share-tipper Iain Dey in The Sunday Telegraph.
He says they have been driven higher by various types of speculation and are trading on 25 times forward earnings, while JD Wetherspoon is only on 18 times.
The potential for upside seems limited relative to the risk of a fall and he advises investors to take their money and run.
The Sunday Telegraph 01/07/07 (Business) page 9
