Greggs’ (GRG) “Hold” Rating Reiterated at Peel Hunt
Greggs (LON:GRG)‘s stock had its “hold” rating restated by Peel Hunt in a research note issued to investors on Tuesday. They presently have a GBX 1,200 ($16.15) target price on the stock. Peel Hunt’s price target would indicate a potential downside of 10.98% from the stock’s previous close.
Several other research firms have also recently commented on GRG. Berenberg Bank upgraded Greggs to a “buy” rating and boosted their target price for the stock from GBX 1,020 ($13.73) to GBX 1,300 ($17.50) in a research report on Thursday, August 10th. Canaccord Genuity increased their target price on Greggs from GBX 1,000 ($13.46) to GBX 1,300 ($17.50) and gave the company a “hold” rating in a report on Thursday, October 12th. Shore Capital reaffirmed a “hold” rating on shares of Greggs in a research report on Tuesday, October 3rd. Finally, Barclays initiated coverage on Greggs in a research report on Monday, November 20th. They set an “equal weight” rating and a GBX 1,405 ($18.91) price target for the company. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 1,296 ($17.44).
Greggs (LON:GRG) traded up GBX 20 ($0.27) during mid-day trading on Tuesday, reaching GBX 1,348 ($18.14). The company’s stock had a trading volume of 223,907 shares, compared to its average volume of 230,688. Greggs has a twelve month low of GBX 911 ($12.26) and a twelve month high of GBX 1,371 ($18.45).
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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