Dresdner Kleinwort Wasserstein recommends buying JD Wetherspoon shares at 253p (260p this week).
The broker feels the pub chain’s share buy-back programme, which is expected to continue this year, is likely to buoy the stock.
The broker is reducing its 2005 forecast against the backdrop of tough trading for the pub group.
The Daily Telegraph (Money) 22/01/05 page 2 (What the brokers say)
