JD Wetherspoon PLC (LSE:JDW)’s full-year trading statement highlighted “the continued resilience of the hospitality sector and its recovery from the pandemic,” said analysts at Shore Capital Markets.
In the 52 weeks to ended July, revenue rose 10.6% to £1.9 billion from £1.74 billion the year before, while like-for-like sales increased by 12.7%.
Shore Cap said there could be room for lifting its current-year estimates for the pub group, “although the valuation, certainly against peers, remains full”.
To that end, Shore Cap reiterated its 'hold' rating on Wetherspoon’s stock, with a 697p price target against a 464p publication price.