Greggs (LON:GRG) was downgraded by equities researchers at UBS Group to a “neutral” rating in a research note issued on Tuesday, investing.thisismoney.co.uk reports. They currently have a GBX 1,600 ($20.91) target price on the stock, up from their previous target price of GBX 1,500 ($19.60). UBS Group’s price objective points to a potential upside of 1.91% from the stock’s current price.
GRG has been the topic of several other reports. Barclays dropped their target price on Greggs from GBX 1,405 ($18.36) to GBX 1,400 ($18.29) and set an “equal weight” rating on the stock in a report on Tuesday, December 4th. Shore Capital reiterated a “hold” rating on shares of Greggs in a report on Wednesday, January 9th. Peel Hunt upgraded Greggs to a “hold” rating and raised their target price for the company from GBX 950 ($12.41) to GBX 1,300 ($16.99) in a report on Tuesday, November 27th. Finally, HSBC restated a “buy” rating and set a GBX 1,600 ($20.91) price objective on shares of Greggs in a report on Tuesday. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Greggs currently has an average rating of “Hold” and an average price target of GBX 1,477.50 ($19.31).
Shares of LON:GRG opened at GBX 1,570 ($20.51) on Tuesday. Greggs has a one year low of GBX 994.50 ($12.99) and a one year high of GBX 1,400.25 ($18.30).
Greggs plc operates as a bakery food-on-the-go retailer in the United Kingdom. It offers a range of fresh and frozen bakery products, sandwiches, drinks, snacks, small cakes and muffins, breakfast products, and sweet bakery treats, as well as porridges, salads, and soups. The company sells its products through its shops in travel, leisure, and work-centered catchments; and franchised stores in motorway service stations and petrol forecourts.
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