<strong>JD WETHERSPOON<br /></strong>Investec Securities has reiterated its buy recommendation for JD Wetherspoon, noting that potential obstacles should be overcome by the company’s strong cash generation and market share gains. The planned VAT increase is not expected to damage JD Wetherspoon, with price increases and accentuated value relative to peers predicted to compensate.<br /><strong><br />ROYAL BANK OF SCOTLAND<br /></strong>Evolution Securities expects only modest profits for Royal Bank of Scotland despite successful restructuring. With no dividends, and a placing on its way, it has reiterated its sell recommendation. Non-core divisions should still be slightly loss-making in 2011 but the core divisions should make up for that with stronger profits and renewed growth.<br /><strong><br />TESCO</strong><br />Shore Capital has issued a buy recommendation for Tesco, expecting the food retailer to report that it has weathered recent challenges and is well positioned for the future. Like-for-like sales growth in the UK is expected to have reached almost four per cent so far this year, with mixed results from Europe and a strong showing from Asia.