Canaccord Genuity Raises Greggs plc (GRG) Price Target to GBX 1,300
Greggs plc (LON:GRG) had its price objective hoisted by investment analysts at Canaccord Genuity from GBX 1,000 ($13.15) to GBX 1,300 ($17.09) in a report released on Thursday. The brokerage presently has a “hold” rating on the stock. Canaccord Genuity’s price target indicates a potential upside of 0.85% from the company’s previous close.
Several other brokerages have also recently commented on GRG. Shore Capital reaffirmed a “hold” rating on shares of Greggs plc in a research report on Tuesday, October 3rd. Berenberg Bank raised their target price on Greggs plc from GBX 1,300 ($17.09) to GBX 1,350 ($17.75) and gave the stock a “buy” rating in a research report on Thursday, October 5th. Finally, Investec reaffirmed a “buy” rating and issued a GBX 1,225 ($16.11) target price on shares of Greggs plc in a research report on Tuesday, August 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of GBX 1,215 ($15.97).
Greggs plc (LON GRG) traded up 0.16% during trading on Thursday, reaching GBX 1289.00. The company had a trading volume of 127,033 shares. The stock has a 50 day moving average price of GBX 1,223.14 and a 200 day moving average price of GBX 1,125.63. Greggs plc has a 12 month low of GBX 891.17 and a 12 month high of GBX 1,304.84. The firm’s market capitalization is GBX 1.30 billion.
In related news, insider Richard Hutton sold 24,949 shares of Greggs plc stock in a transaction on Thursday, October 5th. The stock was sold at an average price of GBX 1,292 ($16.99), for a total transaction of £322,341.08 ($423,798.42).
Greggs plc Company Profile
Greggs plc is a United Kingdom-based bakery food on-the-go retailer. The Company’s products and services consist of a range of fresh bakery goods, sandwiches and drinks in its shop. The Company also provides frozen bakery products to its wholesale customers. The Company owns approximately 1,698 shops, 12 regional bakeries, one distribution center and one manufacturing center.
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