UBS increased its 2007 and 2008 earnings forecasts for JD Wetherspoon by 2% to 3% and increased its price target from 550p to 600p. The bullish stance comes on the back of Wetherspoon’s buyback of 1.25m of its own shares in the past fortnight, which is thought to reflect management confidence. UBS expects November’s first-quarter trading update to trigger consensus forecast upgrades. The shares closed up 1.75p at a new high of 510.75p. The Times 30/09/06 page 69 (Small Caps)