Analyst Andrew Wade of Jefferies maintained a Hold rating on Greencore, with a price target of p185.00.
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Andrew Wade has given his Hold rating due to a combination of factors that reflect both positive developments and potential challenges for Greencore. The company reported strong third-quarter results with notable revenue growth driven by new business acquisitions and favorable weather conditions, which contributed to an increase in underlying volume growth surpassing the broader grocery market. Despite these positive indicators, the rating remains cautious as the company faces ongoing cost pressures, which could impact future profitability.
Additionally, while there is optimism surrounding the BAKK acquisition, which has received shareholder approval, the completion of this deal is still subject to regulatory approval and is not expected until early 2026. This introduces a level of uncertainty in the near term. Therefore, while the company’s performance is commendable, the combination of these factors suggests a balanced outlook, justifying the Hold rating.